Haitong Securities said liabilities at non-financial firms might rise to more than 150 per cent of GDP this year, raising default risk. Photo: BloombergHaitong Securities said liabilities at non-financial firms might rise to more than 150 per cent of GDP this year, raising default risk. Photo: Bloomberg
Haitong Securities said liabilities at non-financial firms might rise to more than 150 per cent of GDP this year, raising default risk. Photo: Bloomberg

Haitong Securities warns of default crisis as mainland debt soars

Leading securities firm raises default risk as companies borrow more to repay old debt

Haitong Securities said liabilities at non-financial firms might rise to more than 150 per cent of GDP this year, raising default risk. Photo: BloombergHaitong Securities said liabilities at non-financial firms might rise to more than 150 per cent of GDP this year, raising default risk. Photo: Bloomberg
Haitong Securities said liabilities at non-financial firms might rise to more than 150 per cent of GDP this year, raising default risk. Photo: Bloomberg
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