Beyond China's Bad Debt
Shadow finance, remittances to sanctioned countries, Internet headwinds. Investors would be wise to read the fine print.
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Everyone suspects that Chinese banks understate their soured debt. Nonperforming loans at 1.67 percent of total assets, the highest since 2009, are still well below where many analysts believe they should be.
But two lenders from the mainland that are set to break a drought in listings in Hong Kong have been pretty open on other fronts.