Shipbuilder Wuhan Guoyu Defaults

BLoomberg: China Sees Second Shipbuilder Default This Year as Economy Slows

Wuhan Guoyu Logistics Industry Group Co., which is based in the central province of Hubei, didn’t transfer funds for interest and principal payment to the Shanghai Clearing House before the due time, according to a statement Monday. The firm issued the 400 million yuan ($60 million) of one-year bonds at 7 percent in 2015.