Tomatoes drying at a facility of the Xinjiang Production and Construction Corps. A company controlled by the Corps has defaulted of a bond. Photo: Xinjiang

Bond default in Xinjiang the latest sign of stresses in China’s financial system

A company controlled by a state entity fails to repay a US$73 million note, triggering sell-off of related debt

Topic |   China economy

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Tomatoes drying at a facility of the Xinjiang Production and Construction Corps. A company controlled by the Corps has defaulted of a bond. Photo: Xinjiang
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