China Ghost Town Developer to Avert Default as Xi Prevents Risks

  • Ordos City Huayan said it will repay bond principal on Dec. 18
  • Firm has importance to the local government, Guotai Junan says

A Chinese ghost town developer is set to avert bond default following a string of debt failures at other companies, just days after President Xi Jinping vowed to prevent systemic financial risks.

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