Another Chinese SOE Flirts With Default as Broker Calls It Early

  • CICC called Erzhong default early, ahead of Monday deadline
  • Not a default under the Chinese definition, Ping An says

A brokerage report Friday saying the parent of China National Erzhong Group Co. won’t pay bond interest due today is prompting speculation over whether the smelting equipment maker will become China’s second state-owned company to default on onshore bonds.

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