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China’s debt-laden local governments struggle to secure refinancing as investors grow wary of default risks

Summary:
[unable to retrieve full-text content]China’s local governments and state firms are struggling to refinance their debt as investors shun them over a lack of support from Beijing, with bigger defaults likely to take place, analysts say.Among Chinese state firms, the value of defaults has more than tripled over the past three years and the number of nonpayments more than doubled over the same period, a trend that is set to continue, Standard & Poors Global Ratings said in a report released on Wednesday.“A trend of bigger individual…

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[unable to retrieve full-text content]
China’s local governments and state firms are struggling to refinance their debt as investors shun them over a lack of support from Beijing, with bigger defaults likely to take place, analysts say.Among Chinese state firms, the value of defaults has more than tripled over the past three years and the number of nonpayments more than doubled over the same period, a trend that is set to continue, Standard & Poors Global Ratings said in a report released on Wednesday.“A trend of bigger individual…

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