Beijing’s moves to cool credit growth have set in motion events that could put 1 of every 10 loans within China‘s banking system in distress, weighing on sector profitability for the next few years, ratings agency Standard & Poor’s said in a report Wednesday.The casualty list of debtors who can’t meet payments will pile up for the next three years, though the fallout won’t be anything as bad as the distress seen in the aftermath of the U.S. housing crisis, S&P said.
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