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Huaxia Bank case adds to hidden bad debt worries in China, Michael Pettis notes

Huaxia Bank case adds to hidden bad debt worries in China, Michael Pettis notes
Huaxia Bank case sparks debt concerns

Michael Pettis highlights rising concerns about hidden bad debt in China's banking system following the Huaxia Bank case.

He notes that this development comes as investors continue to assess the impact of the country's prolonged property crisis.

In recent coverage, Pettis reported that China's total social financing from January to April fell by 893 billion yuan year over year. He has also argued that the Chinese economy relies on expanding its global manufacturing share. The new concerns about hidden debt follow months of weak credit data and ongoing industry pressures.

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