Smaller Chinese firms, retailers struggling to access credit
This from Bloomberg over the weekend citing work from China Beige Book International (an economic analysis form focused on China).
- Loan rejection rates for retail businesses increased to 38% in the final quarter of 2020 from 14% in the previous quarter
- Rejection rates for small and medium-sized businesses rose to 24% in the final quarter, double the rate posted by large companies during the period.
CBBI say the consumer sider of the Chinese economy is still under pressure .... " with spending on non-durables sagging."
Here is the Bloomberg link for a little more if you are interested.