On 14 June, Zhongrong Shuangchuang Beijing Technology Group defaulted on interest payments for its RMB 600 million corporate bond, which was issued on June 2016. There is an increasingly worrying trend of Chinese auto manufacturers defaulting on their corporate bond interest payments . The companies have now defaulted on at least CNY20.1bn ( $ 1 ) in yuan debt and $ 1 m in dollar debt for fiscal 2018 , up 20 % YoY.
There is an increasingly worrying trend of Chinese auto manufacturers defaulting on their corporate bond interest payments . The companies have now defaulted on at least CNY20.1bn ( $ 1 ) in yuan debt and $ 1 m in dollar debt for fiscal 2018 , up 20 % YoY.