China's Fujian Sunshine fails to make bond payment, Cailianshe reports

BEIJING : China's Fujian Sunshine Group, a major shareholder in Chinese developer Yango Group, has failed to pay the interest payment on a US$300 million bond maturing in May 2023, news outlet Cailianshe reported on Tuesday.

Cailianshe reported that the last interest payment was due on Nov. 10 and the issuer did not pay it within the subsequent 30-day grace period.