First Chinese State-Owned Firm Defaults On Its Bonds

Tuesday, April 21, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
04/21/2015

In what may be a harbinger of things to come and in a sign that Beijing will allow the market to play a greater role in determining companies’ financial future, a subsidiary of China South Industries Group has missed a coupon payment, marking the first default by a Chinese state-owned firm.

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