Caixin
Sep 15, 2022 02:58 PM
FINANCE

Chinese Corporate Dollar Debt Issuance Falls at Record Pace

The Bund Bull statue in Shanghai. Photo: Bloomberg
The Bund Bull statue in Shanghai. Photo: Bloomberg

(Bloomberg) — Chinese companies are curbing their dollar borrowings at a record pace this year, stung by a property debt crisis on top of rising rates that have dragged down corporate financing in the currency nearly everywhere.

The amount of dollar bonds issued and loans taken out by Chinese corporations has slumped 46% to $101 billion, the largest decline for similar periods of previous years in data compiled by Bloomberg. That compares with a 25% drop so far in 2022 among firms in the Asia Pacific region excluding China and a 30% decline in issuance of U.S. currency notes by all companies globally.

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