China banks lead financing facility for Ecuador

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China Orient Asset Management (International) Holding (COAMI), China Orient Summit Capital (COS Capital) and KKR recently formed a strategic partnership to invest in growing distressed debt in China as the economy slows.

Statistics from People’s Bank of China show that total non-performing loans have reached more than US$180 billion among the commercial banks in China. According to the bank, China’s real estate market has roughly US$3.1 trillion worth of outstanding debt, which accounts for about 16% of the total lending market in China. Most of them are in the form of commercial bank loans, trust schemes and wealth management plans.

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