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China's Debt Swaps Surpass $100 Billion

  • Debt swaps attracting bad companies, BNP Paribas Asset says
  • Natixis estimates 55 percent of Q2 swaps in coal and steel
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The debt mountain in China has been characterized in state media as 'The Original Sin' of the financial system. Bloomberg's Emma O'Brien reports on 'Bloomberg Daybreak: Asia.' (Source: Bloomberg)

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Almost a year after China rolled out steps to rein in soaring corporate leverage, concerns are rising that undeserving companies are benefiting while households are getting saddled with risks.