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Friday, March 1, 2024

China’s state-owned enterprises and local governments face ‘much tighter credit,’ economist predicts

  • Deleveraging will return as an "important explicit objective" for the Chinese government in 2021, predicts Deutsche Bank's Michael Spencer.
  • A series of recent high-profile defaults by state-owned Chinese firms spooked investors and raised questions over the state of the country's credit market.
  • These government-supported enterprises were previously seen as safer investments because they rarely defaulted.

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