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China Debt Defaults Set to Top 100 Bln Yuan for a Third Year

  • Pandemic disrupted government campaign for fiscal stability
  • Technology, consumer lead industries by amount defaulted
Updated on

China’s corporate debt defaults are set to exceed 100 billion yuan for a third consecutive year, underscoring the pandemic’s disruption of a government campaign for greater fiscal stability.

A surge in missed repayment obligations in the past two weeks drove onshore delinquencies to 104 billion yuan ($15.8 billion) so far this year, data compiled by Bloomberg show. The offshore figure is $8.1 billion, 2.1 times the total in 2019.