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Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?
June 2007
by Lee Oliver and Chloe Hayward
weeklyFiX's coverage of FXMSFXMarketSpace (FXMS) officially published its turnover figures for the first time at the beginning of May, even though they were freely available on Reuters before then. And whatever gloss the company managed to put on them, most industry observers believe they must be disappointing. The platform’s average daily volume through April was just $331 million, which was significantly short of the $16 billion a day that the company says is necessary for it to break even. ...
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