SHANGHAI/BEIJING (Financial Times) -- A Chinese state-owned enterprise from the country's remote north-west has failed to repay a US dollar bond in Hong Kong, the first offshore default in 20 years and the latest sign investors can no longer rely on Chinese authorities to bail out state groups.
A slowing Chinese economy and tight funding conditions for weak borrowers -- despite broader monetary easing in recent months by China's central bank -- are leading to more defaults in both the onshore renminbi and offshore dollar markets.
