The big holes in Chinese local government balance sheets are back — and bigger than first thought, according to Moody’s.
As widely reported this morning, the rating agency reviewed the National Audit Office’s report on local government debt and concluded that it underestimates banks’ NPL exposure. Read more
Standard Chartered analyst Stephen Green has been on the trail of China’s local debt saga for ages now.
Monday was a big day for him. Read more
To tell the story of China’s biggest bank account it helps, perhaps, to start with a story about certain, smaller, Chinese bank deposits. So. Meet Zhang Meifang.
Ms Zhang is, or rather was, an official at the Jiangsu Province Finance Bureau. Read more
Fitch has warned about the role of Chinese trust companies in the country’s lending boom, FT Alphaville writes. But fixing them may be more than a bit problematic. For a start these trust companies are rather nebulous things to begin with; encompassing shades of fund management, private equity, and hedge funds. Read more