The rare action from Wuhan's finance bureau on Friday comes as local governments in China become increasingly pressed by higher debt and expenses. Wuhan was the epicentre of the COVID-19 pandemic that began in 2019.
Debtors include district finance bureaus, scientific research units, state-owned enterprises, units of listed companies as well as private firms, according to a screenshot of the list shared by Yicai. State-owned Wuhan Yangtze River Asset Management Co is a professional platform responsible for the disposal of various non-performing assets in the central city, according to its official website.
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