Foreign investors watch in fear as China's murky debt markets hide a looming coal crash

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• Chinese coal miner Wintime Energy fell behind on its debt repayments earlier this year and is scrambling to avoid default.
• The company announced plans to include loans issued by its healthier subsidiary Huachen Energy as part of revised debt package.
• Data from ratings agency Moody’s shows Huachen is also facing debt problems.

Chinese coal mining company Wintime Energy can’t pay its debts.

Since the middle of this year, the Shanghai-listed energy provider has been unable to meet repayment obligations after quadrupling its debt load in less than five years.

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