Private borrowers bear the brunt of China’s soaring bond defaults as slowing economy and trade war put the squeeze on finances

//Private borrowers bear the brunt of China’s soaring bond defaults as slowing economy and trade war put the squeeze on finances

Private borrowers bear the brunt of China’s soaring bond defaults as slowing economy and trade war put the squeeze on finances

China’s corporate borrowers, especially non-state companies, are missing a record number of bond payments, as business conditions worsened amid the slowest economic growth pace in three decades, while a year-long trade war with the US crimped the biggest market for many exporters.Thirty private businesses missed their repayment obligations on 89 issues valued at a combined 60 billion yuan (US$8.7 billion) so far this year, an increase of 150 per cent from the same period in 2018, according to…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2019-07-23T07:33:15+00:00 July 23rd, 2019|Headlines|Comments Off on Private borrowers bear the brunt of China’s soaring bond defaults as slowing economy and trade war put the squeeze on finances