China is returning to the dollar market for the first time since 2004, in a move that could help its state-owned enterprises and quasi-sovereign banks lower their overall funding costs.
A successful debt sale could be a strong retort to the downgrades of China’s sovereign rating by Moody’s in May and SP last month, both citing worries over the country’s alarming debt levels.
China’s total debt is expected to rise to almost 300% of its GDP in 2022, according to the IMF, which warned that the world’s second-largest economy is too reliant on debt-fuelled growth and that the surge in credit could lead to a...
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