Bond Default 'Could Occur This Year'

(Beijing) – Calling for attention to the hidden risk in the country's bond market, a credit rating expert has warned investors that a real bond default could happen this year.

The warning came from Mao Zhenhua, founder of China Cheng Xin International Credit Rating Co. Ltd. (CCXI), a domestic ratings agency. Debt problems are a main trigger of financial turmoil, he said at the company's annual conference on May 28.