Shanghai: Venturing beyond bonds from state-owned issuers in China often involves more than just assessing credit risk. Investors need to make a call on whether authorities will bail out the borrower.
Make a good call on that, and the rewards can be great. Any trader that took the plunge a month ago on buying the debt of distressed Chinese local oil refiner Shandong Qicheng Petroleum Chemical Industry Co got paid handsomely for the effort.
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