A car is assembled at a factory of Brilliance Auto in Shenyang, Liaoning province. The state-owned company has defaulted on a 1 billion yuan bond. Photo: Reuters A car is assembled at a factory of Brilliance Auto in Shenyang, Liaoning province. The state-owned company has defaulted on a 1 billion yuan bond. Photo: Reuters
A car is assembled at a factory of Brilliance Auto in Shenyang, Liaoning province. The state-owned company has defaulted on a 1 billion yuan bond. Photo: Reuters

Debt at China’s state-owned firms in question after BMW partner fails to repay billion-yuan bond

  • Brilliance Auto, owned by the Liaoning provincial government, says it is suffering from tight liquidity just four months after claiming it had US$7.65 billion worth of ‘cash and equivalents’
  • Company has failed to repay 1 billion yuan to its bondholders after the bond matured last week

Topic |   China economy
A car is assembled at a factory of Brilliance Auto in Shenyang, Liaoning province. The state-owned company has defaulted on a 1 billion yuan bond. Photo: Reuters A car is assembled at a factory of Brilliance Auto in Shenyang, Liaoning province. The state-owned company has defaulted on a 1 billion yuan bond. Photo: Reuters
A car is assembled at a factory of Brilliance Auto in Shenyang, Liaoning province. The state-owned company has defaulted on a 1 billion yuan bond. Photo: Reuters
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