More LGFVs default on commercial paper in July
Subscribe to keep reading.
Trivium Markets keeps you briefed on the latest developments in China markets policy.
Already a subscriber? Log in.
The number of LGFVs listed as serial CAD defaulters increased for the third consecutive month in July, reaching 78 in total after plateauing earlier this year.
That indicates local government financing vehicles (LGFVs) are under increasing financial pressure.
Refresher: CADs are tradable, non-inte...