Guangxi Non-ferrous Metals

Guangxi Non-ferrous Metals Group Co., Ltd. was a state-owned enterprise of China, based in Nanning, Guangxi Zhuang Autonomous Region. It was managed by the State-owned Assets Supervision and Administration Commission (SASAC) of the Government of Guangxi.
On 20 September 2016, Guangxi defaulted on of debt. The company was the first bankrupted interbank bond issuer, according to Hong Kong-based newspaper "South China Morning Post" and Caixin. This and other bankruptcies in the metals sector are widely considered the reason for the Chinese government's push toward reducing production overcapacities in an effort to restructure the economy.