As bond defaults soar in China, investors and regulators are moving to introduce financial tools that have been widely used in global markets to provide protection for creditors in cases where companies can’t pay their debts, The South China Morning Post reported. The National Association of Financial Market Institutional Investors (NAFMII), a Chinese industry body under the People’s Bank of China (PBOC), has consulted major banks and brokerage firms in recent weeks about a plan to introduce credit default swaps, according to recent media reports in the mainland and Hong Kong.

Cash-strapped Hanjin Shipping Co. said Sunday that its creditors' extended help is crucial for its survival as its negotiations with owners of chartered ships over a cut in leasing rates and to postpone debt repayments to foreign creditors made significant progress, the Yonhap News Agency reported. The country's No.

Hanjin Shipping on Thursday submitted its plan to boost liquidity to the Korea Development Bank, its largest creditor, but gave little details, JOC.com reported. South Korean financial sources have indicated that the plan involves asset sales beyond the previously disclosed efforts to raise 411.2 billion South Korean won ($357 million) and could reach as high as 700 billion won. Hanjin has already sold stakes in a terminal in Vietnam, a ship, its London office and its remaining stakes in H-Line Shipping, to which it sold its liquefied natural gas and dedicated dry bulk divisions in 2014.

New Zealand's insolvency practitioners look likely to face a new licensing regime after a report to Commerce Minister Paul Goldsmith found that gaps in existing rules enable dishonesty and incompetence, The New Zealand Herald reported. The public has until Oct. 7 to make submissions on a review of insolvency law, which Goldsmith says is primarily to find what the minimum level of entry should be for the specialists tasked with winding down companies.

The commodity super-cycle that peaked in 2011 powered Mongolia to world-beating growth. Then came the bust and China’s recent economic slowdown that’s pushed the land of Genghis Khan into an unprecedented economic crisis this summer. Yet even though the commodity market finally has a pulse again after a five-year collapse, a modest revival in prices isn’t going to be enough to rescue Mongolia’s mineral-rich, $12 billion economy. What worked for Mongolia in 2011 isn’t working now.

Studio City Macau, Lawrence Ho and James Packer’s $4.5 billion integrated casino resort on the Cotai Strip is in trouble and could default on the $1.41 billion loan used to complete the construction of the hotel, Casino.org reported. That’s the word from rating agency Standard and Poor’s Financial Services, which this week issued a negative outlook for the resort’s bonds, off the back of a 42.5 percent slide in their value. Macau’s first ever TV and movie-themed resort opened in October 2015.

China’s debt pile is huge and – more worryingly – growing fast. And credit isn’t delivering the same kind of economic boost it once did. But most debt is in local hands in a largely closed financial system, giving China’s leaders some breathing space to fix the mess. And that’s good for the global economy, Bloomberg News reported. China’s total debt is now about two and a half times the size of its economy. It takes almost a third of gross domestic product just to service it. Corporations are by far the biggest debtors, especially state-owned enterprises.

The owners of the Mater Private hospital, who recently pulled a sale of the business for the second time in 14 months, have secured a €300 million refinancing deal led by Australian bank Macquarie. The Sydney-based bank’s Macquarie Lending unit in London said it acted as lead arranger and finance partner for the hospital group. The transaction will refinance the Mater Private’s existing debt and includes a “tailored” capital expenditure facility to support growth and development of the hospital, it said.

The best-performing bank in China is in a struggling city in the northeast where weeds sprout alongside the concrete skeletons of high rises in an industrial zone that mostly looks like a ghost town, Bloomberg News reported. Steel plants have laid off tens of thousands of workers. Cranes stand idle on construction sites. Wipe away a spiderweb on a dirty glass door at an empty complex with smashed windows and there’s a notice from the local government demanding rent unpaid since November 2014. Yet the Bank of Tangshan’s financial statements hardly reflect these realities.

The fate of debt-ridden Hanjin Shipping Co. remains yet uncertain with its parent group having missed the August 20 deadline to submit additional financial support measures to creditors to salvage its shipping unit from heading to court receivership, Pulse reported. All eyes are now on whether the South Korean shipping company would successfully strike a deal with foreign ship owners to reduce chartering fees, a move that is expected to allow its creditors to be more lenient in providing additional financial support.