Henny Sender is a managing director at BlackRock in Hong Kong, and a senior adviser to the BlackRock Investment Institute.
While the COVID pandemic raged in the first quarter of last year, there were no defaults. But since late 2020, China has seen a sharp rise in defaults, both among privately owned companies and state-owned entities. Among them are a coal company in Henan Province and a state-owned automotive company in the depressed northeast.
