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Expect more forgeries, fakes in China debt market amid bond rout
Poll finds 56% Chinese execs justify unethical behaviour to help company survive a downturn
Add BT as a preferred sourcePublished Thu, Jan 26, 2017 · 09:50 PM
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Hong Kong
FORGED seals, fake letters and counterfeit documents - they are all part of China's recent spate of fraud coming to light in the country's US$3 trillion corporate debt market amid a rout that has analysts predicting a record number of defaults in 2017.
As it becomes harder for Chinese companies to issue new notes to repay maturing debt, expect more scandals to come - and to worsen the bond market's already-precipitous downturn.
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