China Economics

China Chart Book

19 July, 2018

Corporate defaults surge

Corporate bond defaults in China have jumped recently, adding to worries about the economic outlook. July is on track to more than double the previous monthly record for the scale of onshore bonds entering default. The economic slowdown that we are forecasting over the coming months will put firms under even greater strain. As things stand though, missed bond payments in China are still remarkably rare. We estimate that the bonds which entered default during the past year account for less than 1%

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