Jul 18, 2023 10:05 AM

CX DAILY

CX Daily: Dark Arts of Fund Manager in China’s Bond Market Lift Lid on Debt Mess

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LGFV structured bond sales may have reached 2.1 trillion yuan as of January 31, according to Founder Securities

LGFV structured bond sales may have reached 2.1 trillion yuan as of January 31, according to Founder Securities　

Bonds /

Cover Story: Dark arts of fund manager in China’s bond market lift lid on debt mess

China is doubling down on stymying the murky fund raising practices in the structured bond market that is exploited by shady fund managers and risky borrowers, as the government steps up efforts to tackle the debts amassed by local government financing vehicles (LGFV), which by some estimates have ballooned to 50% of the nation’s GDP.

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