I had some whispers yesterday: Another China corporate bond default coming up?

More now:

  • A bottle maker in China said it won't be able to fully repay a bond due May 28 as a slowdown in the world's second-biggest economy persists.
  • Zhuhai Zhongfu Enterprise Co. can only repay 148 million yuan ($23.9 million) of the 590 million yuan principal, according to a company statement to the Shenzhen Stock Exchange Monday.
  • It plans to pay all the 31.152 million yuan of interest.

more at Bloomberg

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ps ... China stock markets don't care ... via FastFt just minutes ago:

  • The Shenzhen Composite passed a milestone, achieving a 100 per cent return so far this year.
  • The index, known for its internet, high-technology and software start-ups, is up 2.2 per cent, a seventh straight gain for a cumulative 16.6 per cent.
  • The Shanghai Composite jumped 1 per cent , up for a sixth-straight session and a 50 per cent year to date return.