China Huarong's bonds plunge: five things to know

The distressed debt manager is again sparking fears over market contagion

The big international ratings agencies are reviewing their assessments of China Huarong's finances, which has sparked as sell-off of the state-linked debt manager's own bonds. © AP

NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent

April 15, 2021 15:37 JST

HONG KONG -- Bond investors are fleeing China's largest distressed debt manager.

China Huarong Asset Management failed to publish its 2020 preliminary results by the March 31 deadline and this week speculation has swirled around bond defaults and even bankruptcy -- even though the entity is majority-owned by China's Ministry of Finance.