China's private firms face record default risk, to stay high in 2020 - Fitch
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SHANGHAI (Reuters) - China's private companies have defaulted at a record rate this year and could face similar pressures in 2020, rating agency Fitch said on Tuesday, highlighting significant corporate debt risks as economic growth slows to near 30-year lows.A record high of 4.9% of China's privately-owned issuers defaulted on onshore bond payments in the first 11 months of 2019, Fitch said in a statement, up from 0.6% of private issuers in 2014. Privately-owned enterprises (POEs) accounted..