Some have accused Sri Lanka of falling into China’s “debt trap", but the South Asian nation refuses to put all of its eggs in China’s basket.
Evergrande's liquidity problems and the pressure on rivals Kaisa Group and Fantasia to make debt repayments point to how refinancing in the property development sector will only become more difficult.
Investors have turned bearish on Evergrande and, in some cases, Chinese high-yield. But many believe Beijing will support an organised restructuring of the firm to prevent its complete collapse.
Domestic agencies tend to rate domestic firms more favourably than their foreign peers, but the difference is particularly striking in China.
The country has adopted new measures over local bond issuance and credit ratings. These may have little impact on defaults but could increase the participation of foreign investors.
In spite of the fee cap, Allianz GI's Elvin Yu believes his firm can add value to the core MPF structure and maintain a viable business