Chinese borrowers default in record numbers as economic crisis deepens

Chinese borrowers default in record numbers as economic crisis deepens

Defaults by Chinese borrowers have surged to a record high since the outbreak of the coronavirus pandemic, highlighting the depth of the country’s economic...

Chinese Borrowers Default in Record Numbers

“Defaults by Chinese borrowers have surged to a record high since the outbreak of the coronavirus pandemic, highlighting the depth of the country’s economic downturn and the obstacles to a full recovery,” the Financial Times reports.

Рекордное с момента начала пандемии коронавируса число китайцев — более 8 миллионов человек — не смогло заплатить по кредитам, что подчеркнуло глубину экономического спада в Китае. Об этом сообщает Financial Times (FT). По данным китайских судов, около 8,54 миллиона человек в возрасте от 18 до 59 лет официально занесены властями в черный список после неуплаты платежей по различным займам, начиная от ипотечных до бизнес-кредитов. Как уточняет изд…

Chinese economy in meltdown as borrowers default

China's economy is teetering once again as a series of shocks to the economy and long-term issues are hitting Beijing hard.

A total of 8.54 million people, between 18 and 59 years old, are officially blacklisted by the authorities after failing to make payments from real estate mortgages to commercial loans. And the State blocks their every action

China Frames ‘One Province, One Policy’ Plan for Financial Risk

China’s regulator wants provinces to come up with their own plans to handle financial risks, according to a report, about a month after officials pledged to set up a mechanism to resolve local debt issues.