Wuhan is pressing hundreds of Chinese firms to repay their debts in rare public warning

Wuhan, the largest city in central China, has publicly demanded that hundreds of local companies repay their debts, in an extremely rare move that highlights the dire financial situation facing many of the country's municipal governments amid economic uncertainty.

source https://www.cnn.com/2023/05/29/economy/china-wuhan-local-debt-crisis-intl-hnk/index.html