China’s Companies Find Ways to Avoid Bond Blowups

Chinese companies are avoiding or minimizing bond defaults, even as the economy shrinks for the first time in decades.

China’s domestic corporate-bond market is one of the world’s largest, with a total face value of about $5.1 trillion, according to Wind. Yet while there have been defaults recently, the shock of the coronavirus pandemic hasn’t produced anything to rival high-profile U.S. collapses such as Hertz Global Holdings Inc.

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