China reportedly setting up state-owned bad debt fund to aid floundering miners
Published: Thursday, 10 December 2015
The country’s mining industry has some of the largest debts in the business and a state-owned fund could help companies struggling with high repayment costs. Lengthening the industry’s correction could draw out the pain being experienced by the extractive industries, however.
China is said to be constructing a
state-owned fund to deal with much of the high-risk "bad debt"
that has built up in the country’s mining industry
over recent years.
Established as an investment company, the fund would be
owned by the Assets Supervision and Administration Commission,
according to Bloomberg,...