A man looks at an electronic board at a brokerage house in Hangzhou, Zhejiang province, China on February 11, 2019. Photo: Reuters

A China debt default raises question: Will officials always step in for companies allied with local authorities?

  • Chinese state-backed borrower fails to make good on a payment on a dollar bond
  • Failed payment indicates limits to officials’ appetite to aid borrowers with high leverage in industries with excess capacity
Topic |   China economy

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A man looks at an electronic board at a brokerage house in Hangzhou, Zhejiang province, China on February 11, 2019. Photo: Reuters
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