A series of bond defaults in north-east China is exposing creditors’ frustration at the lack of a transparent process for resolving bad debt as cash-strapped local governments step back increasingly from taxpayer bailouts.
中國東北發生的一連串債券違約使債權人對于缺乏透明的壞債處置過程表露出郁悶。現金拮據的地方政府日趨不愿動用納稅人資金出手紓困。
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