S&P Global Ratings is predicting China is to see the first bond default by a local government this year, as Beijing tightens liquidity as a way of deleveraging an economy facing increasing financial risk. Photo: Reuters

S&P Global Ratings says China to see first bond default by a local government financing vehicle in 2018

S&P also expects the number of defaults in the world’s second-biggest economy to increase as companies fall victim to tightening liquidity

Topic |   China economy

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S&P Global Ratings is predicting China is to see the first bond default by a local government this year, as Beijing tightens liquidity as a way of deleveraging an economy facing increasing financial risk. Photo: Reuters
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