Market fixed on Qinghai redemption amid LGFV downgrades
MIN CHIU/cmjjack2016 - stock.adobe.com
Chinese local government financing vehicles are under immense pressure, with the ratings of 11 LGFVs downgraded last week. But the focus for now is on the upcoming redemption of Qinghai Provincial Investment Group’s $300m bond next week — key to investor confidence in the sector.
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