Mainland authorities have been trying to wind back implicit debt guarantees in the world’s second-biggest bond market, in an effort to introduce pricing based on credit risk. Photo: AFP

Getting it right on Chinese bond bailout winners can lead to a windfall 30 per cent return

  • Buyers of distressed debt of Chinese local oil refiner Shandong Qicheng Petroleum Chemical Industry Co earned a handsome return in weeks
  • Bailouts can be expected as authorities seek to avert a further daisy chain of defaults
Topic |   Bonds

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Mainland authorities have been trying to wind back implicit debt guarantees in the world’s second-biggest bond market, in an effort to introduce pricing based on credit risk. Photo: AFP
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