China solar container debt default

Chinese solar equipment maker Shanghai Chaori Solar Energy Science just missed a deadline to make interest payments of 89.8 million yuan ($14.7 million) on its corporate bonds, becoming the country’s first company to ever default. and the amounts involved have been on the rise, year-by-year. As of the end of October 2019, 340 bonds from 111 issuers in the Chinese credit bond market defaulted on interest distribution materially, and the default principal has added up to RMB 318.9 billion, or about 1.51% of the Chin efaulting. Chinese solar equipment maker Shanghai Chaori Solar Energy Science just missed a deadline to make interest payments of 89.8 million yuan ($14.7 million) on its corporate bonds, becoming the country’s first company to ever default. Shanghai Chaori warned earlier this week it was having difficulty. SHANGHAI, March 13 (Reuters) - Chinese investors caught out by the country's first default of a domestic bond face formidable obstacles to ever recovering any funds from the deeply indebted solar equipment maker. Shanghai Chaori Solar Energy Science and Technology Co Ltd failed last Friday to pay. For the first time in China’s history, a Chinese company defaulted on its bond payments, signaling a change in the country’s economic policy. Shanghai Chaori Solar Energy Science and Technology, a company that produces solar panels, could not make its interest payments on a one billion yuan bond. SHANGHAI, March 7 (Reuters) - China's first domestic bond default looked set to occur as expected on Friday as there was no sign of a last-minute bailout for solar equipment producer Chaori Solar, an event seen as a landmark for market discipline in the world's second-largest economy. The. A solar energy company's pending interest payment default has changed China's bond market forever.