A Chinese solar company warned it may not be able to make a US$14.6 million (RMB89.8 million) interest payment in full by the March 7 deadline, Bloomberg reported, citing a statement by the company to the Shenzhen stock exchange on Tuesday. Shanghai Chaori Solar Energy Science & Technology (002506.SHE), a maker of solar cells, plans to pay approximately US$651,000 to bondholders, in what may be the first default in China’s onshore bond market. A default would stoke new concern about strains in the country’s financial system.
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