Property News · October 5, 2018

China’s Wuzhou International misses US$204 million in bond payments


Troubled mainland Chinese developer Wuzhou International Holdings said it had missed 1.4 billion yuan (US$204 million) in bonds payments and was also facing claims for at least 756 million yuan, adding to a string of earlier defaults and financial woes.
The company’s revelation comes amid the rising the number of bond defaults by Chinese companies this year as the government reduced implicit guarantees, in turn moral hazard, to steer the debt market towards a healthier development. State-…

Source : South China Morning Post
Read more…China’s Wuzhou International misses US4 million in bond payments

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