As China moves forward with a deleveraging campaign in the financial sector, risks in its corporate bond market have started to emerge as easy money are waving goodbye and more and more Chinese companies, especially private ones, are struggling to repay loans.
On 2nd June, the Shenzhen-listed Kaidi Ecological and Environmental Technology based in Wuhan of central China’s Hubei province, failed to repay 698 million yuan due in principal and interest payments on a medium-term bond, making it the 22nd bond default in China so far this year.
“Kaidi’s default is a . . .
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