Illustration: Henry Wong

Brutal interventions in Sanpower’s debt workout show why China’s deleveraging campaign has long ways to go

  • Until Sanpower missed its bond payments, its acquisitions in 2014 and 2015 had mostly been spared the scrutiny of the nation’s financial regulators
  • Its debt-fuelled shopping spree underscores the challenge faced by banks as they struggle to untangle the debt owed by corporate borrowers, city governments and state enterprises in the nation’s ‘deleveraging campaign’
Topic |   Banking & Finance

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Illustration: Henry Wong
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