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China’s five-year credit defaults swaps added 5 basis points (bps) from Monday’s close to hit 112 bps, the data showed. China CDS started the year at 40 bps.
With the exception of its deeply indebted property sector, which has also been the target of a policy crackdown, China’s external debt levels are contained.
However, Prolonged COVID-19 lockdowns and long-running disputes over technology with the United States have weighed heavily on domestic consumption and growth.
