People familiar with the matter revealed that the local state-owned enterprise Zhuhai Huafa Group has paid some investors for one of its overdue trust products. The company's offshore bonds were sold off this week. People familiar with the matter said on Monday that Zhuhai Huafa, with a debt of 62 billion US dollars, failed to pay the two recently expired trust products on schedule. The company also requires some Chinese banks to extend loan terms and lower interest rates.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.