Lowy Lee News Today

Chinese companies ’dollar bonds are successful as Beijing tightens credit When China Fortune Land Development lost $ 530 million in payments in February, the real estate developer was in no hurry to tell investors. “They never said‘ we defaulted, ’” recalled one of the company’s offshore investors, who only found out through a third-party trustee. that they. Chinese Fortune, which builds industrial parks and owes another $ 4 billion, is one of the largest companies in the country u...