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China’s corporate bond market looks set to see record defaults this year, surpassing last year’s 143.6 billion yuan ($21.8 billion) in missed repayments.
Bond defaults had already topped 104 billion yuan between the start of this year and the end of November, according to data compiled by Bloomberg. Delinquencies on the mainland, the world’s second-largest bond market, have exceeded 100 billion yuan for three years in a row.
“Rising defaults were expected as economic fundamentals this year are not strong enough to support company growth due to the coronavirus . . .
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