China's corporate debt defaults set to exceed 100 billion yuan

[chapink]

China’s corporate debt defaults are set to exceed 100 billion yuan for the third consecutive year, highlighting the coronavirus pandemic's negative impact on the economy.

According to Bloomberg, a surge in missed repayment obligations in the past two weeks drove onshore delinquencies to 104 billion yuan ($15.8 billion) so far this year. The offshore figure is $8.1 billion, 2.1 times the total in 2019.

More debt defaults may be seen in the near-term, as policymakers have reportedly vowed a “zero-tolerance” approach to violations in the bond market with the economy recovering from the coronavirus-induced slowdown.

[Ashleyxoxo]

Small indie company.

[Shadowferal]

100 billion yuan?
A little over $15 billion...

Whatever...

[GreenJesus]

$15 billion? That's it? The US just bailed out our companies with like $3+ trillion.

[Orange Joe]

burner account.... trying to rip on china over something.


So which Trump-sucker are you?

[tylenol]

$15 billion or about 2.2% of the US's yearly military budget or about 0.25% of the $6-7 trillion dollars we spent somewhere on the pandemic so far.