Zhuhai Huafa is reported to have repaid overdue trust products to some investors.

People familiar with the matter revealed that local state-owned enterprise Zhuhai Huafa Group has repaid some investors in one of its overdue trust products. The company's offshore bonds were sold off this week. People familiar with the matter said on Monday that Zhuhai Huafa, which has $62 billion in debt, failed to make timely payments on two recently maturing trust products. The company has also asked some Chinese banks to extend loan maturities and lower interest rates.