Quotes from the news wire:
The recent defaults have highlighted long-standing concerns about high public and private sector leverage against a backdrop of low growth and a very weak real estate market characterized by chronic over-capacity, in itself, a policy of more limited support is positive for the government’s finances and creditworthiness. However, there is limited transparency on the GREs’ balance sheets and the challenging economic environment has increased the risk that some entities could still require financial support, putting pressure on government finances.
Found on Reuters 3 years ago
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