A top Chinese chipmaker and a major car manufacturer announced debt defaults on Monday, expanding a list of distressed state-linked firms that have roiled the country’s credit market in recent days.

Tsinghua Unigroup Co. said it wasn’t able to to repay a 5.6%, 1.3 billion yuan ($197 million) privately issued onshore bond due Monday, citing tight liquidity and after failing to win immediate approval from creditors to delay full repayment on the note. Brilliance Auto Group Holdings Co., a Chinese automaker linked to BMW AG, also announced that it has defaulted on 6.5 billion yuan ($987 million) of debt.

https://chinatalkshow.libsyn.com/is-...crisis-looming


^ from the 12th, shits starting to happen really fast.