China Record $30B Bond Defaults Seen Rising This Year
- Beijing expected to normalize monetary policy, reduce debt
- Delinquencies offshore surged in 2020, while they fell onshore
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(Corrects story published Jan. 12 to remove incorrect offshore default data in the second paragraph caused by double counting of Founder Group’s $490 million offshore bond. Bloomberg is also correcting other stories published from Oct. 19 to Jan. 15 that contained the error.)
Defaults by Chinese companies are likely to top last year’s record as tighter monetary policy squeezes borrowers, according to China Merchants Securities Co.