What’s that got to do with the price of tea in China?
Concerns about fraud and ‘malicious asset transfers’ rise as chinese companies with government ownership default on their debt obligations.
The credit markets of China are tightening up and it is affecting a wide range of things. Chinese regulators are now espousing a “zero tolerance” policy.
Earlier this year Luckin Coffee was delisted because of accounting fraud.
Biden’s pick for national security wants to encourage chinese business despite these issues.
Government involvement in the chinese financial industry prevented Ant Group from going public.
One of the recent defaults was a coal company.
By Michael Carver
November 25th, 2020 10:23 AM
Featured Image Credit: “China – Great Wall” by iNathan is licensed under CC BY 2.0
