The Tibetan plateau, whose grassland encompasses most of north-west China’s Qinghai province, was the unlikely setting for a bond default scare this week.
Qinghai Provincial Investment Group unexpectedly missed payments on bonds sold both within and outside China, marking the first offshore default by a state-owned enterprise in more than 20 years.
The episode highlights how interpreting political relationships is as important as analysing cash flows in assessing the danger of default at Chinese SOEs.
您已閱讀9%（504字），剩餘91%（4848字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。