A China debt default raises question: Will officials always step in for companies allied with local authorities?

//A China debt default raises question: Will officials always step in for companies allied with local authorities?

A China debt default raises question: Will officials always step in for companies allied with local authorities?

A Chinese state-backed borrower’s failure to make good on a payment on a dollar bond on Friday threatens to overturn assumptions that officials would step in to avert defaults by companies closely linked to local authorities.Qinghai Provincial Investment Group, an aluminum producer that was seen by some analysts as a bellwether for assessing government support due to its struggles to make payments on offshore debt last year, had failed to wire funds for a coupon payment due February 22 as of…

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By | 2019-02-24T08:20:01+00:00 February 24th, 2019|Business|Comments Off on A China debt default raises question: Will officials always step in for companies allied with local authorities?