, Columnist
China Inc.'s Shadow Bank
The nation's publicly traded companies have $590 billion in accounts receivable, up 23 percent from two years ago.
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There's at least half a trillion dollars missing from the overall debt figure China released this morning.
According to a Bloomberg News report, the nation's publicly traded companies have about $590 billion in accounts receivable on their balance sheets, up 23 percent from two years ago. That's credit to other companies and customers that doesn't show up in China's total social financing aggregate figures. It's money moving in the shadows, and further evidence of the debt dangers that face the world's second-biggest economy.