China’s onshore credit market has seen immense growth but it still presents challenges for investors - not least in relation to defaults, which are on the rise. While more defaults are a good thing for the Chinese market and investors in the long run, research shows that bondholder recovery rates have fallen. This podcast explores what's fuelling this new dynamic and how market participants should be thinking about it.

This popular article, first published in September 2019 and which you can read here, draws on the work of a white paper that provides a comprehensive look at the rising number of defaults in China - why the are occurring, why they are a good thing in the long run, and what investors should do about them. You can read the white paper here.

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