The alarming lack of response to Qinghai’s non-payment

Fire alarm bell from Adobe 230x150
By Addison Gong
05 Mar 2019

The brief default of a dollar bond by local government financing vehicle (LGFV) Qinghai Provincial Investment Group last week caused next to no impact in the China offshore bond market. That is a bad sign.

After years of speculation, it finally happened: a major government-owned entity failed to make good on a dollar bond payment. But the market’s reaction to the rare default by Qinghai Provincial Investment was surprisingly calm. The defaulted bond dropped to to a cash price in the high-70s at ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.