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Capital Markets

China Inc. boosts bond issues abroad as funding wanes at home

Deleveraging drive forces businesses and local governments to seek alternatives

State-owned steelmaker Shougang Group was one of the Chinese firms that has recently tapped the overseas bond market.   © Reuters

SHANGHAI -- Chinese businesses offered $87 billion in bonds overseas in the four months through April, turning abroad for cash as Beijing's efforts to curb excessive debt cut off normal funding channels.

Debt issued overseas, including in Hong Kong, by Chinese businesses nearly tripled from $30.9 billion a year earlier, based on exchange rates at offering time.

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