Photographer: JOHANNES EISELE/AFP via Getty Images

China’s Credit Party Winds Down in Headwind for GDP Growth

  • Net issuance drops 39% in August as cutting debt trumps growth
  • Decline shows ‘beginning of deleveraging process,’ Xia Le says

Chinese companies’ borrowing costs have never been so low. That’s little consolation to firms cutting debt rather than investing amid a slowing economy.

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