Internet firm's missed payment to mark China's second onshore default

Cloud Live Technology Group (002306.SHE), a big data provider that entered the industry after corruption probes hit its former restaurant business, said it would miss payments due Tuesday, April 7 to investors who had exercised an option to sell back notes, likely marking the second onshore default in China’s corporate bond market, Bloomberg reported, citing a statement by the company to the Shenzhen Stock Exchange. The firm, formerly Beijing Xiangeqing, said in July it was shifting into the online data business and changed its name in August, only to be told by regulators it would be investigated for violation of securities rules in October.