Chinese Firms Owe Roughly $24 Billion in Overdue Credit Bonds: Borrowers include state-run enterprises who were previously rated AAA by Chinese bond rating agencies
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Borrowers include state-run enterprises who were previously rated AAA by Chinese bond rating agencies.
The Chinese market has three types of bonds: government bonds that were issued by different level governments; credit bonds issued by companies; and convertible bonds, issued by listed companies and which can be converted into shares of common stock in the issuing company or cash of equal value.
Chinese state-run media Economic Observer reported the latest bond market statistics collected by Wind, a Chinese private financial services company.