China’s First Bond Default in Focus as Debtholders Meet
This article is for subscribers only.
Holders of China’s first corporate bond to default onshore met today in Shanghai, as investors look for clues on how the government will balance market liberalization with steps to maintain stability.
There was difficulty assessing the overseas assets of Shanghai Chaori Solar Energy Science & Technology Co. and no specific restructuring plan emerged from the gathering, according to Wang Xuejun, an investor in attendance. The solar-panel maker will issue a statement by tomorrow at the latest, Vice President Liu Tielong said when reached on his mobile phone after the meeting. More than 10 police cars were on the street in front of the company headquarters today around 2:30 p.m. as the gathering took place.