Yongcheng Coal’s bond default has sparked broader concern over whether local governments will be able to bail out the state firms they own. Photo: AFP Yongcheng Coal’s bond default has sparked broader concern over whether local governments will be able to bail out the state firms they own. Photo: AFP
Yongcheng Coal’s bond default has sparked broader concern over whether local governments will be able to bail out the state firms they own. Photo: AFP
China economy

China’s ‘grey rhino’ debt risk highlighted by bond defaults

  • Bond defaults by state-owned firms have underscored China’s debt problem, which has grown this year as the economy recovers from the coronavirus
  • China’s total domestic debt, including financial loans, will likely hit 335 per cent of GDP in the second quarter of 2020, recent estimates suggest

Topic |   China economy
Yongcheng Coal’s bond default has sparked broader concern over whether local governments will be able to bail out the state firms they own. Photo: AFP Yongcheng Coal’s bond default has sparked broader concern over whether local governments will be able to bail out the state firms they own. Photo: AFP
Yongcheng Coal’s bond default has sparked broader concern over whether local governments will be able to bail out the state firms they own. Photo: AFP

Corrected [11:38am, 26 Nov, 2020]

  • [11:38am, 26 Nov, 2020]

    (This story has been corrected. For details, see the note at the end of this story)

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