China’s corporate debt defaults are set to exceed 100 billion yuan for a third consecutive year, underscoring the pandemic’s disruption of a government campaign for greater fiscal stability.
A surge in missed repayment obligations in the past two weeks drove onshore delinquencies to 104 billion yuan ($15.8 billion) so far this year, data compiled by Bloomberg show. The offshore figure is $8.1 billion, 2.1 times the total in 2019.
