China's Banking Sector Faces Growing Debt Stress As Credit Card Defaults Rise Among Borrowers Aged 40 To 50
New Delhi, Oct 26: Chinese banks are facing a surge in credit card defaults from middle-aged borrowers who otherwise look like model citizens, with university educations and secure public-sector jobs, according to a report. There was a close to 50 per cent jump during the last quarter in the value of non-performing loans registered on the Banking Credit Assets Registration and Circulation Centre…
We haven't written up this one. Free Press Journal has the full story — the link below goes straight to it.
