Home China local govt firm fails to repay $629 mln loans in rare default: sources – Reuters News

China local govt firm fails to repay $629 mln loans in rare default: sources – Reuters News

Updated: 18 May. 2018 | 06:46

The news is crossing via Reuters that a firm controlled by the Xilinhot city government in China’s Inner Mongolia region has defaulted on principal and interest payments worth 4 billion yuan ($629 million), sources familiar with the matter told Reuters.

The Xilinhot city government declined to comment on the issue.

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