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Ding Dong Dandong – First Chinese Corporate Default After Party Congress
6 years 24 weeks ago in Arts & Entertainment - China
http://www.zerohedge.com/news/2017-11-01/ding-dong-dandong-–-first-chinese-corporate-default-after-party-congress
Just over a week ago we highlighted how China’s financial regulator had instructed companies to delay the reporting of bad corporate news until after the Party Congress. As Bloomberg noted...
China’s securities watchdog has asked some loss-making companies to avoid publishing quarterly results this week as authorities seek to ensure stock-market stability during the Communist Party Congress, according to people familiar with the matter.
The China Securities Regulatory Commission made its requests via the country’s stock exchanges, the people said, asking not to be named as they’re not authorized to talk to the media.
At least 17 Shenzhen-listed companies announced delays to their earnings reports from Oct. 20 to Oct. 24, up from three during the same period last year, exchange filings show.
Now that the Congress is out of the way, announcements of corporate debt defaults are also reportable it seems.
