Executive Summary

In an effort to contain the significant debt problem mounting in China, the government ordered banks to roll over local government loans, shining more light on the impending NPL problem in the country. GLG Research hosted a Teleconference with Michael Harris, leading NPL adviser and servicer in China, who led a discussion on the following: • NPL overhang and future of national Asset Management Companies • Concerns from the fiscal stimulus funding package • How shadow banking and alternative lending may increase potential for rising NPLs • What would the “perfect storm” look like and when?

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Financial & Business Services