Corporate insolvencies in China are expected to grow at a faster rate than in any other big global economy this year as the economic slowdown hits public and private companies.
Euler Hermes, the trade credit insurer, predicted that insolvencies in China would grow by a fifth in 2019. That increase comes on top of a 60 per cent jump last year in the country, where gross domestic product growth has fallen to its lowest rate in a decade.
“The softening of the economy, even if well managed, will take its toll,” said Maxime Lemerle, head of sector and insolvency research at Euler Hermes.
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