Mind the gap: LGFV credit divergence sends worrying signals
![GlobalCapital LGFV SBLC 001.jpg](https://assets.euromoneydigital.com/dims4/default/29914cb/2147483647/strip/true/crop/4209x3664+0+0/resize/840x731!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F6a%2F26%2Feb9e9ab5403cae13250cab7c06da%2Fglobalcapital-lgfv-sblc-001.jpg)
Wider credit differentiation between China’s LGFVs is a threat that investors need to watch out for
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