Chinese companies’ defaults on dollar bonds more than threefold this year, analysts say it’s set to rise further
Chinese companies’ defaults on dollar bonds more than threefold this year, analysts say it’s set to rise further

Chinese companies’ defaults on dollar bonds more than threefold this year, analysts say it’s set to rise further

 

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Defaults by Chinese companies on their US dollar-denominated debt have increased significantly this year as the coronavirus pandemic, a slump in oil prices and deteriorating US-China relations have hurt business and weakened their ability to repay.

US dollar bond defaults by Chinese companies have jumped threefold to $12 billion so far this year from $4 billion for all of last year, according to financial firm Natixis.

As world central banks roll out large-scale monetary easing policies, the Asian corporate bond market is stabilising. Investors earlier this year dumped US dollar bonds in . . .

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