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China’s government says it won’t be responsible for companies’ borrowing as it issues guidelines on reducing corporate debt and debt-equity swaps

2 weeks ago
Sky Canaves
he new policy announcements from China's State Council highlight the increasing coordination among government agencies to tackle China's mounting problems with leverage, as the nation's total debt has increased by 465 percent over the last 10 years to account for 247 percent of GDP in 2015.
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.