Hello there, I'm Ed Butler and welcome to Business Daily from the BBC.

Today, as the People's Republic of China marks 70 years since its foundation,

citizens are enjoying a relatively new experience, cheap and easy consumer credit.

They make it extremely easy or sometimes it even looks like a trap. And once you get the taste of it,

you start feeling like, oh, it's a good option. But it's not just consumers who are piling on the debt,

is corporate China, also now in way too deep. They have a lot of loans which are probably

never going to be repaid. Once you start to poke at the

confidence of that kind of system, I think that's where the government gets really worried,

and that's why bankruptcy is so important in China. Poking at China's potential credit bubble.

That's here on Business Daily from the BBC.

One of the biggest one of the biggest military parades in China's history

with lots of patriotic singing.

No,

New Mexico, China's history, with lots of patriotic singing. Yes, China today has marked the 70th anniversary of the dawn of Communist Party rule there.

But rather spoiling the party mood, protests against Beijing have

been simultaneously kicking off in nearby Hong Kong.

While the anger in Hong Kong is largely driven by China's increasing influence over the territory,

but China's leadership is determined that it won't derail the positive message.

China is celebrating what it says have been extraordinary achievements of communist rule,

especially in the last 40 years, which have seen the transition from a market-style economy to a market-driven one.

Since the 80s, China has promoted free market reforms, a switch that's seen remarkable improvements.

The economy has grown tenfold in just two decades to become the world's second largest, delivering,

...