Name: China Banks to Sell $210 Million in Bad Loans Amid Defaults
Uploaded: 2023-12-19T05:33:37.000Z
Description: Chinese banks are selling off bad loans at a record pace.

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Chinese banks are selling off bad loans at a record pace.

With the Chinese market spiraling, more and more Chinese companies are having a hard time repaying their loans to Chinese banks.

This week alone, six Chinese banks plan to issue more than $210 million worth of securities. All of them are based on bad loans.

Typical buyers include fund managers, wealth management firms, and specialist distressed debt investors. Plus some hedge funds who are still betting on a future economic recovery for China.

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