Although the latest defaults represent a fraction of China s $13 trillion onshore bond market, some high-profile cases have rattled investors since the common perception has been that the Chinese government will not let state-supported firms fail.
The case of Chinese bad debt manager Huarong has also spooked investors, causing a market rout this year when the firm failed to file its earnings in time and its U.S. dollar-denominated bonds plunged.
Analysts said cases like these signal how the state s so-called implicit guarantee is changing as the government tries to improve the bond market s quality weeding out the weaker firms, and allowing for some differentiation within the industry.
China is concerned about inflation – but it s not the top priority right now | Hellenic Shipping News Worldwide
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New Signs Show That China Is Cracking Down on Debt Again
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New Signs Show That China Is Cracking Down on Debt Again
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China s monetary policy is shifting more quickly than it did after the 2008 financial crisis
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