Business
The fault lines in China’s economy have been exposed – Sydney Morning Herald
There has been a spate of Chinese companies defaulting on their bond repayments in the past few weeks, sending anxious ripples through the market and raising fears…
Last month Brilliance Auto Group, which has ties to BMW, was unable to redeem a 1 billion yuan bond and one of Chinas biggest, and most indebted, property companies, China Evergrande, was forced to sell a major asset to raise 14.9 billion yuan to avert a liquidity crunch.
Those defaults and stresses have raised questions about the state of Chinas corporate sector and a question mark over the willingness and capacity of local governments, and the central government, to bail out troubled enterprises.
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