If a bond defaults when few people close by are paying attention, should it cause a stir? Shanghai Chaori Solar Energy has said it cannot pay Rmb89.8m ($14.6m) in interest due on Friday. Assuming disaster is not averted, it will become China’s first onshore corporate bond default. The first of anything can be a big deal, especially to overseas China-watchers scarred by the west’s financial crisis where small events did presage wider turmoil. But this one – should it happen – would be most welcome.
如果一只債券在周圍沒有多少人關注的情況下違約，它應當掀起軒然大波嗎？上海超日太陽能(Shanghai Chaori Solar Energy)已表示無法在周五的預定付息日償付8980萬元人民幣（合1460萬美元）的利息。假設這場違約真的發生，它將是中國在岸公司債券市場上的首例違約。任何事情的頭一回都可能是大事，尤其對海外的中國觀察人士而言——西方的金融危機給了他們一個教訓，就是細微的小事確實可能預示著更大范圍的動蕩。但此次違約事件假如真的發生，將是十分可喜的。
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