At least four of China’s real-estate-related companies have defaulted on bonds this year, as Beijing maintains its campaign against excessive debt. Photo: Reuters
Opinion
Opinion
The View
China’s deleveraging campaign takes a toll on the private sector, especially the battered property market
- Nicholas Spiro says an upswing in the Chinese equities market can’t disguise the beating its private firms have taken due to government efforts to rein in debt
- Furthermore, these worrying signs appear unlikely to ease as long as central banks dial back their stimulus measures
At least four of China’s real-estate-related companies have defaulted on bonds this year, as Beijing maintains its campaign against excessive debt. Photo: Reuters