China’s corporate bond market has weathered the storm of several, shock, high-profile state-owned enterprise bond defaults in recent months. This series of corporate bond defaults has rattled investors, leading them to question the assumption that the state will intervene and prevent defaults. Our analysis has found that there is an economic rather than political motivation behind the defaults, fuelled by the COVID-19 pandemic, with regional fiscal imbalances contributing to an increase in defaults… [Please click below to read the full…