Chinese State-Owned Conglomerate Sinomach’s Unit Defaults On $30M Bond Payment

Corporate bond defaults are rising in China, and the latest is a Beijing-based state-owned group that controls 1,177 subsidiaries and eight listed companies unable to pay principal of RMB205 million (US$30.45 million).

China Money Network

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Yimian Wu is a staff researcher at China Money Network.

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