China must sort out its default system – opinion

21 Apr 2013

The country should combine a more liberal attitude towards bond defaults with improved transparency or global investors will turn their attention elsewhere.

China’s refusal to allow any of its companies to go into default had been a running joke for years. But in December the country’s State Council offered its own punchline when it announced that it would no longer continue to bail out the unprofitable solar sector.

It has been ...

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