56% of Chinese companies surveyed reported an increase in overdue payments, South China Morning Post reported, citing a survey by the insurer Coface. Such delays have a wider effect on China’s small and medium-sized enterprises, and the firm’s report notes a strong correlation between overdue payments and the number of non-performing loans in China’s financial system. The chemical and construction industries have been the worst hit by the trend. In January, Coface issued a negative outlook on China.
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