China's Massive Loans Lead to Even Bigger Bailouts.
The full text of the Chinese government's bailout loan agreement has been released, revealing that the country's central bank will provide up to Rmb1.2tn ($173bn) to China Huarong Asset Management, a state-owned bad debt manager. The loan is intended to help stabilise China's financial system and prevent a potential crisis. The move comes as China's economy continues to struggle with high levels of debt and slowing growth.