The proceeds from special purpose bonds are mainly used to fund infrastructure and housing projects. Photo: Xinhua The proceeds from special purpose bonds are mainly used to fund infrastructure and housing projects. Photo: Xinhua
The proceeds from special purpose bonds are mainly used to fund infrastructure and housing projects. Photo: Xinhua

Debt woes of one of China’s top cities highlighted by first-of-its-kind bond default

  • Tianjin-based Bohai Securities defaulted after buying 375 million yuan (US$55 million) of special purpose bonds issued by the Henan government via auction
  • Henan province responded by blacklisting the brokerage firm which is controlled by the municipality of Tianjin

Topic |   China economy
The proceeds from special purpose bonds are mainly used to fund infrastructure and housing projects. Photo: Xinhua The proceeds from special purpose bonds are mainly used to fund infrastructure and housing projects. Photo: Xinhua
The proceeds from special purpose bonds are mainly used to fund infrastructure and housing projects. Photo: Xinhua
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