Chinese firms are said to be the biggest borrowers in Asia this year, more than doubling the amount of money they raised on the previous year in the onshore syndicated loan market and nearly matching that feat offshore, the South China Morning Post reported Tuesday, citing data from Thomson Reuters. Syndicated loans raised on the mainland by Chinese borrowers reached a record, equivalent to US$116.9 billion, helping push total loan market volume in Asia-Pacific excluding Japan to US$461.9 billion – up a massive 51 percent, the report said. Around 62 percent of the loans raised on the mainland were in the project finance/infrastructure category, it said. Loan market activity in Hong Kong was also driven sharply higher by China-linked borrowing, according to the report.
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