China Braces for Wave of Soured Loans With New Bad-Debt Manager
- Move creates first new national bad-debt manager in 20 years
- Virus may swell China’s bad-debt pile by $790 billion: S&P
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Amid all China’s efforts to contain the economic damage of the coronavirus outbreak, a crucial development slipped by almost unnoticed -- the creation of the first national bad-debt asset manager in 20 years.