China might have to brace for a new wave of bond defaults, S&P says

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China’s state-directed economy may perhaps be creating the problems for a new wave of bond defaults that could appear as soon as upcoming calendar year, according to an S&P World-wide Ratings report released Tuesday.
“The authentic matter to view for policymakers is irrespective of whether the present-day directives are building distorted incentives in the financial system,” Charles Chang, increased China place direct at S&P International Rankings, stated in a cellphone job interview Wednesday.
Bond defaults dropped in most sectors very last calendar year except for tech services, purchaser and retail, S&P identified.

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