China navigating a corporate debt trap: S&P
MELBOURNE -- S&P Global Ratings believes the troubles of Evergrande hint at credit strains simmering among Chinese corporates, and a strong resolve by the Government to tackle this issue. S&P says a survey involving 25,000-plus global entities reveals that the leverage levels of China's corporate sector are significantly above the global average. "It is a US$27 trillion problem that is increasingly getting the attention of Beijing," says S&P.