China debt crisis fears overdone, says DBS chief

Piyush Gupta says the bank has “zero exposure” to Qingdao port and no exposure to collateral financing in China.
Piyush Gupta
Piyush Gupta

Piyush Gupta, chief executive of Singapore’s largest lender DBS, said fears of a looming debt crisis in China are “overdone” at the bank's results briefing on Friday

His comments come amid increasing investor concerns about China’s rising corporate leverage and bad debts within its banking system

Meanwhile, reports of fraudulent loans in Qingdao port have fanned fears among banks with exposure to collateral financing in China Banks including HSBC, Standard Chartered and ABN Amro have exposure to the Qingdao financing  

According to Gupta, DBS has “zero exposure” to Qingdao Port and no exposure to collateral financing in China And, while the risks in China are growing, he said that the issues are specific to certain...

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