| Description |
1 online resource (43 pages) : color illustrations. |
|
text file |
| Series |
IMF working paper,
1018-5941 ;
WP/16/203
|
|
IMF working paper ; WP/16/203.
|
| Note |
"October 2016." |
|
At head of title: International Monetary Fund, Asia and Pacific Department. |
| Bibliography |
Includes bibliographical references (pages 39-40). |
| Summary |
Corporate credit growth in China has been excessive in recent years. This credit boom is related to the large increase in investment after the Global Financial Crisis. Investment efficiency has fallen and the financial performance of corporates has deteriorated steadily, affecting asset quality in financial institutions. The corporate debt problem should be addressed urgently with a comprehensive strategy. Key elements should include identifying companies in financial difficulties, proactively recognizing losses in the financial system, burden sharing, corporate restructuring and governance reform, hardening budget constraints, and facilitating market entry. A proactive strategy would trade off short-term economic pain for larger longer-term gain. |
| Contents |
Cover; Contents; I. Introduction; II. How Significant is the Problem?; III. What is Behind the Rapid Credit Growth?; IV. Charting the Way Out; A. Authorities' Plans; B. Comprehensive Strategy; C. Elements of the Comprehensive Strategy; V. Supportive Measures; A. Enhancing the Legal Framework; B. Easing the Transition; C. Facilitating Market Entry; D. Strengthening Fiscal Discipline for Local Governments; VI. Illustrative Scenarios; VII. Conclusion; Table; 1. Resolving Zombie Companies across Selected Provinces; Figures; 1. Credit Boom and Adjustment: Regional Impact. |
|
2. China Deleveraging ScenariosAppendices; I. Using a Pilot Program to Restructure State-Owned Enterprises; II. Modalities of Debt Restructuring; III. China's 1998-2003 Previous Restructuring Experience; IV. Recent Near-Default Cases; V. Corporate Restructuring in Central and Eastern Europe; VI. Korea's Experience with Corporate and Debt Restructuring; VII. Estimating the Impact of Restructuring; VIII. Managing Local Government Debt-International Experiences; IX. Projecting Growth and Credit under Different Scenarios; References. |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
Corporate debt -- China.
|
|
Corporate debt. |
|
China. |
|
Credit -- China.
|
|
Credit. |
|
Financial risk management -- China.
|
|
Financial risk management. |
| Genre/Form |
Electronic books.
|
| Added Author |
Arslanalp, Serkan, 1976- author, (IMF staff)
|
|
Caparusso, John, author, (IMF staff)
|
|
Garrido, José María, author, (IMF staff)
|
|
Guo, Si, author, (IMF staff)
|
|
Kang, Joong Shik, author, (IMF staff)
|
|
Lam, W. Raphael, author, (IMF staff)
|
|
Law, Tak Yan Daniel, author, (IMF staff)
|
|
Liao, Wei (Wei Carol), 1979- author, (IMF staff)
|
|
Rendak, Nadia, author, (IMF staff)
|
|
Wingender, Philippe, author, (IMF staff)
|
|
Yu, Jiangyan, author, (IMF staff)
|
|
Zhang, Longmei, 1984- author, (IMF staff)
|
|
International Monetary Fund, publisher.
|
|
International Monetary Fund. Asia and Pacific Department, issuing body.
|
| Other Form: |
Print version: Maliszewski, Wojciech. Resolving China's Corporate Debt Problem. Washington, D.C. : International Monetary Fund,2016 9781475545289 |
| ISBN |
9781475545289 |
|
1475545282 |
|
147554538X (e-book) |
|
9781475545388 (electronic book) |
| Standard No. |
10.5089/9781475545289.001 |
|
