Logo 26 Sep 2024

Commercial paper defaults show local debt woes deepening

The financial struggles of local government financing vehicles (LGFVs) are intensifying.
In August, the number of LGFVs with repeated defaults on commercial acceptance drafts (CADs) reached a new high of 84, marking the fourth consecutive monthly increase.
Refresher: CADs are tradable, non-interest-...

Subscribe to keep reading.

Trivium Markets keeps you briefed on the latest developments in China markets policy.

Already a subscriber? Log in.