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China Defaults Mount Among Inter-company Loans

Chinese companies that have lent money to other companies are facing a potential wave of defaults, with several listed firms already reporting missed loan repayments.   Shipbuilder Sainty Marine on Tuesday became the latest listed firm to report that it had failed to receive principal and interest repayments on a 900 million yuan ($144.7  million) loan to a property developer.   The same day, Qiaqia Food Co announced that it would launch a lawsuit against another food...

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