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[BEIJING] A unit of China's Guosen Securities, one of the country's largest brokerages, has defaulted on a Hong Kong-traded yuan bond, the Financial Times reported on Thursday, citing a document seen by the paper.
The default would be the first debt breach by a state-owned enterprise in the offshore bond market in nearly two decades, the paper said.
Guosen Securities said its Hong Kong unit was preparing a statement to be issued later on Thursday. It gave no further detail.