Chinese banks will need $1.7 tn to cover bad loans: S&P
Chinese banks will need to raise as much as $1.7 trillion capital to cover a likely surge in bad loans, S&P Global said in a report on Tuesday. S&P attributed the need for capital infusion to rising debt levels, which will worsen the credit profiles of China’s top 200 companies this year. China's debt is nearly 250% of its GDP.