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China debt market feeling the heat in June with two big defaults and a government order to reduce risk

Summary:
[unable to retrieve full-text content]A bankruptcy by a heavily indebted state enterprise backed by a provincial government, a large trust investment firm being unable to pay its investors and an order to all state firms in a southwestern province to restructure their debts are all recent incidents that have further highlighted the growing stress in China’s debt market.Energy and mining conglomerate Qinghai Provincial Investment Group, which is ultimately owned by the state-owned asset watchdog for Qinghai province, had already…

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[unable to retrieve full-text content]
A bankruptcy by a heavily indebted state enterprise backed by a provincial government, a large trust investment firm being unable to pay its investors and an order to all state firms in a southwestern province to restructure their debts are all recent incidents that have further highlighted the growing stress in China’s debt market.Energy and mining conglomerate Qinghai Provincial Investment Group, which is ultimately owned by the state-owned asset watchdog for Qinghai province, had already…

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