Photographer: Qilai Shen/Bloomberg

China Cities Face End of Fairy Tale as Default Risks Rise

  • Onshore note sales by financing vehicles fell 18% last quarter
  • ‘No absolute guarantee’ LGFVs won’t default: HuaAn’s Cheng

Finance firms that help keep cash flowing to China’s towns, cities and provinces face rising risks of landmark bond defaults just as they turn to global markets for funds.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.