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7 Mar 2014
Flash: Chinese onshore bond market may face a default - Danske Bank
FXStreet (Barcelona) - Morten Helt, Senior Analyst at Danske Bank notes that the Chinese onshore bond market will likely face a default.
Key Quotes
“The Chinese solar energy company, Shanghai Chaori Solar Energy Science & Technology Co., has announced that it is unable to make the interest payment due today in full and hence it appears that the Chinese onshore bond market will face a default.”
“According to Bloomberg, the People’s Bank of China adviser Chen Yulu this morning said that default risks for trust products in the country are under control.”
Key Quotes
“The Chinese solar energy company, Shanghai Chaori Solar Energy Science & Technology Co., has announced that it is unable to make the interest payment due today in full and hence it appears that the Chinese onshore bond market will face a default.”
“According to Bloomberg, the People’s Bank of China adviser Chen Yulu this morning said that default risks for trust products in the country are under control.”