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https://www.wsj.com/articles/fueled-by-long-credit-binge-chinas-economy-faces-drag-from-debt-purge-e4621859

Fueled by Long Credit Binge, China’s Economy Faces Drag From Debt Purge

Consumers, businesses and local governments are looking to deleverage

By Stella Yifan Xie
China’s property developers, which once spent heavily to buy land, have cut back dramatically. Photo: Wang Zhao/Agence France-Presse/Getty Images

HONG KONG—After years of heavy borrowing, many in China are focused on paying down their debts this year—and the result could be weaker growth for a long time to come.

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.