Chinese Firms Owe Roughly $24 Billion in Overdue Credit Bonds

Chinese Firms Owe Roughly $24 Billion in Overdue Credit Bonds
A worker lays bricks along a street in Beijing, China on Dec. 4, 2020. NOEL CELIS/AFP via Getty Images
Nicole Hao
Updated:

The latest indicator of China’s economic woes is the number of credit bonds nationwide that could not be repaid on time—164 of them, involving a sum of 160 billion yuan (about $24.43 billion).

Borrowers include state-run enterprises who were previously rated AAA by Chinese bond rating agencies.

Nicole Hao
Nicole Hao
Author
Nicole Hao is a Washington-based reporter focused on China-related topics. Before joining the Epoch Media Group in July 2009, she worked as a global product manager for a railway business in Paris, France.
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