Bloomberg News, Bloomberg News BC-Chinaâs-Record-$30-Billion-Bond-Defaults-Seen-Rising-This-Year , Bloomberg News
(Bloomberg) Defaults by Chinese companies are likely to top last yearâs record as tighter monetary policy squeezes borrowers, according to China Merchants Securities Co.
Some 39 Chinese companies both domestically and offshore defaulted on nearly $30 billion of bonds in 2020, pushing the total value 14% above 2019âs. Locally, delinquencies fell to 137 billion yuan ($21 billion) from 142 billion yuan the previous year, while offshore they rose to $8.6 billion from $3.9 billion.
âThe central bank will implement more prudent monetary policies this year,â said Yuze Li, a credit analyst at China Merchants Securities. âMore companies may face refinancing pressure. As the maturities jump, the default amounts will climb by an estimated 10%-30% from the previous year,â he said, referring
Why China Sought Help With Credit Ratings for Bonds - The Washington Post
washingtonpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtonpost.com Daily Mail and Mail on Sunday newspapers.
The $2 5b default of chipmaker Tsinghua signals China has no mercy for debt-fuelled growth
dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.