Caixin
Jun 22, 2018 08:18 PM
FINANCE

Regulators Hold to Deleveraging Despite Rising Defaults

“Local governments are all under water. No one wants to be the first to show it can’t hold its breath,” a source who investigated the situation in localities told Caixin.  Photo: VCG
“Local governments are all under water. No one wants to be the first to show it can’t hold its breath,” a source who investigated the situation in localities told Caixin. Photo: VCG

*Though defaults are increasing as a consequence of the government’s deleveraging campaign, the number and value are not yet considered high — the rate is also lower than it was in 2016

*Most defaults so far have been in industries including traditional manufacturing and port management, but analysts expect to see defaults in the real estate and local government financing sectors later in the year

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