A pedestrian walking past closed retail shops in Mong Kok on 24 February 2020. Photo: K.Y. Cheng A pedestrian walking past closed retail shops in Mong Kok on 24 February 2020. Photo: K.Y. Cheng
A pedestrian walking past closed retail shops in Mong Kok on 24 February 2020. Photo: K.Y. Cheng

Hong Kong is heading for a ‘cataclysmic recession’ as city’s runaway debt service ratio imperils economy, research firm says

  • Hong Kong’s debt service ratio among private non-financial companies is the highest among 32 countries on the BIS list
  • The leverage is concentrated in the property and financial sectors, which account for more than a third of all loans in the city

Topic |   Dealing with debt
A pedestrian walking past closed retail shops in Mong Kok on 24 February 2020. Photo: K.Y. Cheng A pedestrian walking past closed retail shops in Mong Kok on 24 February 2020. Photo: K.Y. Cheng
A pedestrian walking past closed retail shops in Mong Kok on 24 February 2020. Photo: K.Y. Cheng
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