As Chinese defaults rise, private placements sweep risks under mat

Chinese brokers are directing large amounts of capital fleeing China's tumbling stock market into high-yielding private debt, aiding embattled corporates but also raising risks for buyers including mutual funds, trusts and ultimately retail investors. Global investors are increasing worried about debt levels in China's financial system, particularly borrowing by companies in the hard-to-assess shadow banking sector, fearing a shock could destabilize the world's second largest economy. Newly anno