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China’s retail-sector borrowing ‘fell off a cliff’ in late 2020, with many small firms unable to access credit, report says

Summary:
[unable to retrieve full-text content]Borrowing by China’s already struggling retail sector “fell off a cliff” at the end of this year, with small firms also still struggling to access credit amid a weak recovery in consumer spending, according to a new report.Loan-rejection rates in the retail sector increased to 38 per cent in the final quarter of 2020 from 14 per cent in the third quarter, according to the latest quarterly report from China Beige Book International, which conducts an independent survey of different aspects of…

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[unable to retrieve full-text content]
Borrowing by China’s already struggling retail sector “fell off a cliff” at the end of this year, with small firms also still struggling to access credit amid a weak recovery in consumer spending, according to a new report.Loan-rejection rates in the retail sector increased to 38 per cent in the final quarter of 2020 from 14 per cent in the third quarter, according to the latest quarterly report from China Beige Book International, which conducts an independent survey of different aspects of…

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