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China Bond Defaults Seen Rising After Sinosteel Misses Payment

...“Sinosteel’s default means we will see more and more real bond defaults, in which investors may not get full repayment, in China,” said Ivan Chung, an associate managing director at Moody’s Investors Service in Hong Kong. “The government may want to reduce its intervention in default cases and let market forces play a bigger role.”

http://www.bloomberg.com/news/articles/2015-10-21/china-bond-defaults-seen-rising-after-sinosteel-misses-payment