Two major Chinese state-owned firms recently labeled by the U.S. Department of Defense as “Communist Chinese military companies” are selling billions of dollars in bonds with the help of Western banks.
The label doesn’t impose any legal restrictions and in itself has no bearing on whether a company can do business in the U.S. Still, legal experts and financial analysts said the sale was notable, because the labeling could be a signal of sanctions to come and could pose reputational risks for the banks that are running the…
