(Bloomberg) — The latest bond failure by a Chinese local government investment arm has rekindled concerns about a group of borrowers whose outlook is closely tied to Beijing’s shifting definition of its implicit backing.The debt woes faced by Hohhot Economic & Technological Development Zone Investment Development Group, a local government financing vehicle from Inner Mongolia, have sent chills among investors holding other such LGFV bonds, driving prices sharply lower for some.The development also came just as onshore corporate bond defaults in China rose to a record high this year as the worst economic slowdown in three decades constrains Beijing’s ability …read more
Source:: Yahoo Finance
