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Debt at China’s state-owned firms in spotlight as credit tightening raises default pressure Amanda Lee amanda.lee@scmp.com Some state-owned enterprises in China, including in the coal industry, continue to suffer from falling prices and bloated workforces. And transforming them to commercially viable businesses has been slow. Photo: Reuters China s big state-owned firms are likely to face growing pressure to make payments on their debt this year as Beijing moves to tighten credit growth, government researchers and analysts said. Last year, Chinese state firms defaulted on 71.8 billion yuan (US$11.1 billion) worth of debt, accounting for 51 per cent of all defaults, and the largest default total for state firms since China first allowed onshore bond defaults in 2014, according to data from the National Institution for Finance & Development (NIFD), a government-linked think tank.

Liu jinsongLi yangNational institution for finance developmentYongcheng coal electricity holding groupNational institutionGlobal impactYongcheng coalElectricity holding groupலியூ ஜின்சோங்லி யாங்தேசிய நிறுவனம் க்கு நிதி வளர்ச்சிதேசிய நிறுவனம்உலகளாவிய தாக்கம்மின்சாரம் வைத்திருத்தல் குழு