Guo Shuqing, chairman of the China Banking Regulatory Commission, speaks during the Lujiazui forum in Shanghai, on Thursday. Photo: Bloomberg

Debt defaults to rise as China focuses on tackling bloated state enterprises, local governments in deleveraging drive

Guo Shuqing, China’s top financial regulator, says the focus is on state companies and local governments in the government’s structural deleveraging drive to ward off future financial risks and even though debt defaults could rise they will be kept to manageable limits

Topic |   China economy

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Guo Shuqing, chairman of the China Banking Regulatory Commission, speaks during the Lujiazui forum in Shanghai, on Thursday. Photo: Bloomberg
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