Debt-laden local government financing vehicles face soaring bond yields

  • MicroWave@lemmy.worldOP
    link
    fedilink
    English
    arrow-up
    20
    ·
    1 year ago

    These projects, which had questionable profitability to begin with, were hit hard by the country’s real estate slump and its zero-COVID pandemic restrictions. The company’s cash flows deteriorated, and it has faced numerous lawsuits, including over unpaid bills.