China Wealth Management Product Credit equals Gold No 1 narrowly missed default on the 31st January 2014 with a mysterious saviour bailing the fund out and averting an emerging crisis in China’s troubled shadow banking system.
Time is now running out for Shanghai Chaori Solar Energy Science and Technology Company who has announced it can not pay the 89.8 million yuan interest payment owning on its Chaori bond due this Friday, 7th March.
» China’s Chaori Solar poised for precedent-setting bond default – Reuters, 4th March 2014.
» China Is Headed For Its First Domestic Bond Default — And Here’s Why That’s A Good Thing – Business Insider, 5th March 2014.
» First China Onshore Default Looms as Chaori to Miss Payment – Bloomberg, 5th March 2014.