These AAA Bonds Are Tumbling as China Default Fears Spread
- Jizhong Energy, Tianjin TEDA among hardest-hit state firms
- Such SOE’s debt has risen faster than profits: Pacific Sec.
Photographer: Qilai Shen/Bloomberg
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A string of defaults by Chinese state-owned companies has sent shockwaves across the world’s second-largest credit market.
But some bonds have fared much worse than others as investors clamber to avoid the next potential blowup. Among the most notable losers: notes issued by Pingdingshan Tianan Coal Mining Co., Jizhong Energy Group Co., Tianjin TEDA Investment Holding Co. and Yunnan Health & Culture Tourism Holding Group.