Foreign media quoted an economist as saying that the decision to allow a Chinese solar equipment manufacturers bonds of default is the right thing, which is China's first domestic commercial debt market corporate bond defaults. But the move also highlights a major challenge facing regulators: that is, how to inject more risk to financial markets without the trigger of the crisis.

United States, basket nike tn pas cher "Wall Street Journal" reported on March 7, how to grasp this balance is a problem, many well-known global regulators and central bankers have never been done for decades.

According to reports, when the Shanghai Solar Energy Technology Co., Ltd. Chao said, when unable to pay interest on the Bonds shall be paid on the 7th of the total 89.8 million yuan, the credit market has been hit.

Reported that in the past, when corporate bonds, trust and wealth management products may be breach of contract, the Chinese government escarpin louboutin pas cher will always be quick to come up with remedies. Although such relief scarpe hogan outlet only temporarily ease the crisis, made investors believe the government will always come to the rescue, which triggered a new round of higher-risk bets, causing more bad debt, the formation of the so-called "moral hazard."

CLSA Asia economist Francis Cheng said: "The Chinese government knows there are many problems louboutin pas cher in this area, so allow Shanghai Super breach occurred, which is conducted by the government in this area which will be a first test controlled. pressure is released, I do not want to say that the explosion of. "

Economists and financial historians said that the future development path of China's best is to allow some proper treatment, after a serious breach of a larger communication emerges, the stakes increasing, until investors realized the risks and adjust their behavior.

Reports, but many countries during such attempts suffered setbacks, most notably the United States, did not realize the risk of allowing Lehman Brothers bankruptcy. Confirm whether an institution or in a group of securities systemic risk of default, post hoc analysis much easier than predicted in advance.

But if not careful in the choice of default objects, investors may be eager to withdraw from the market, triggering panic in the market and drag on the economy.

Bank of America Merrill Lynch Financial Management Department David Cui said: "Fundamentally, the government needs to introduce risk by forcing gradually reduce the level of leverage to avoid the risk of scarpe hogan outlet the spread of this is the ideal situation, realize it is very difficult."

But analysts said the Shanghai Super bond default is a good start, because it is relatively air max small default size, easy to control, and is not a private but state-owned company involved.

BBC website on March 7, said China's first case of domestic corporate debt defaults case is considered to be a test of Chinese government policy.

Chinese investors in the past has been that the risk in the company's bankruptcy, the government will certainly come to the rescue. But allows Shanghai Super breach means the Chinese government adopted a new position.

"China Beige Book" Leland Miller, president of research firm, said: "In the past never happened in China over the events of default of corporate bonds, so investors feel that the risk does not exist in China and now the Chinese leadership hopes to break this what happened. there are people carrying illusion. "

Reported that, in this case, the Chinese government seems to be making a historic strategic decision to allow some companies go bankrupt, especially not like this Shanghai Super great impact on the market of the company.