Chinese Banks Will Need $1.7 Trillion To Cover Bad Debt Deluge, S&P Calculates

– Chinese Banks Will Need $1.7 Trillion To Cover Bad Debt Deluge, S&P Calculates:

In a report published by S&P Global, the rating agency’s analysts noticed not only the latest deterioration in corporate China, but also the relentlessly growing leverage, noting that rising debt levels will worsen the credit profiles of China’s top 200 companies, requiring the country’s banks to raise $1.7 trillion in capital to cover a likely surge in bad loans.

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