HONG KONG/BEIJING -- Nonperforming debt at China's four biggest banks grew 22% last year, with the balance set to skyrocket this year if state-mandated loan extensions expire.
China debt crunch
Bad debt swells 22% at China's big banks despite recovery
As small businesses struggle, nonperforming loans in 2020 reach $150bn
China's big four banks, including Agricultural bank of China, are seeing the amount of bad debt on their books swell. © Reuters
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