Investors must tread carefully with LGFV bonds
Investors are rushing back to Chinese LGFV offshore bonds, but credit risk means that picking the wrong ones could be costly.
May 29, 2019
China’s local governments have a ballooning debt problem that cries out for urgent resolution, but analysts suggest that this would be a herculean task. If the problem worsens, it will affect banks, interest rates and GDP growth in China, as well as offshore bonds issued by government-owned companies.
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