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Mini debt crisis in China province
Published Fri, Aug 21, 2015 · 09:50 PM
Beijing
A MINI debt crisis in northern China is exposing cracks in a financial pillar of the country's economic revival plan: the US$430 billion loan-guarantee industry.
China has a heavy corporate debt burden and its economy is slowing, putting borrowers under strain, but many lenders take comfort from the fact that their loans are insured against default through the nation's almost 8,000 guarantee companies.
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