China’s bond defaults for this year are already double the $9 billion total from 2021, according to a report by the South China Morning Post, which cited Angus To, the deputy head of research at ICBC International.
The tally for 2022 bond defaults has passed $20 billion, largely because of the debt crisis in the $2.7 trillion property market, the report said. Most of the defaults were by property developers, the story added.
Read the full report: South China Morning Post.
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