China's bad debt prices surge as investors vie for share of lucrative sector
Prices of non-performing loans in the country have risen more than 30% this year, according to distressed investor Belos Capital Asia Ltd
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Hong Kong
BAD loans are rapidly becoming the latest hot commodity in China as more domestic and foreign investors rush into the market and bid up prices.
Prices of non-performing loans (NPLs) have risen more than 30 per cent this year, according to distressed investor Belos Capital Asia Ltd. The average selling price of NPLs has climbed to around 50 cents on the dollar in the past two years, from 30 cents, said Victor Jong, a partner in the deals and business recovery services unit of PricewaterhouseCoopers (PwC) in Shanghai. Such a high level is "very rare" in international markets, Mr Jong said.
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