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China bond market may see default by a state firm

Beijing's resolve to reform state sector under scrutiny as Baoding Tianwei Group looks likely to miss interest payments due on Tuesday


FOR two years Premier Li Keqiang has vowed painful state sector reforms that may feel like slashing one's own wrist. That resolve is about to be tested in China's bond market.

Baoding Tianwei Group Co, a unit of central government-owned China South Industries Group Corp,