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Spread between the 1-year AAA and BBB+ corporate bond yields in PRC. View <a href="/sites/default/files/chaori-chart.png">chart</a> in full.

Chinese Bond Default – What Does it Mean for Asia's Bond Market Development?

Last Friday, 7 March, 2014, Shanghai Chaori Solar Energy Science and Technology Co Ltd defaulted on its 1 billion yuan ’Chaori-11 bond‘ when it failed to pay in full the coupon due that day. The default should not have taken investors by surprise as the company has been struggling over the past few years due to general weakness in the solar panel market.

Thiam Hee Ng

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