China’s state planning agency will investigate corporate bond issuers’ ability to repay maturing notes, a sign of Beijing’s concern about financial risks amid a slowing economy and tight liquidity that has made refinancing difficult for many borrowers.
Chinese bond defaults reached an all-time high last year, and issuers are facing a wave of maturities in 2019.
A series of high-profile defaults in recent weeks have shaken market confidence. China Minsheng Investment Group, a privately equity group backed by many of China’s largest private companies, failed to repay principal on a Rmb3bn ($442m) private placement bond late last month.
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