Trusts, Bonds Lead Surge in Credit 'Gambling'
(Beijing) – Default risks seem remote among local government financing platforms that have raised trillions of yuan since last year via trusts, bank-sponsored wealth management products, securities and bonds – and plan to borrow a lot more.
Most borrowers and lenders converging inside this unconventional credit circle, which has widened dramatically since 2011 in the face of bank loan limits imposed by the central government, are wearing a happy face.
- WeChat 'Glitch' Allows Family to Raise over 2 Million Yuan in 80 Minutes
- China's VAT Rebate Reform Aims to Boost Local Government Fiscal Strength
- Share Splits Raise Stock Market Suspicions
- China Faces Severe Coal Transport Capacity Shortage
- Audi Scraps Plans for New China Dealer Network
- Regions Found to Have 'Critical' Heavy Metal Emissions Now Clean Up Act
- Official PMI Spikes as Producer Prices Rise, Exports Surge
- China Adds 10% Consumption Tax for Superluxury Cars
- News Calendar, December 5-11
- Caixin's Manufacturing Indicator Dips to 50.9 in November
- Sign up to receive our free daily newsletter