Recently, the financial market has witnessed the boom of bond default. ANBOUND research team notices that the boom is closely related to the downturn of both global and China’s economy, weak demands, worsening business environment, and the broken capital chain. Particularly, the SOEs and local government’s debts keep climbing due to soft budge constraint, the market fundamental functions and settings suffer shortage, and multiple regulators are involved into the supervision. While responding to the potential risk is a systematic task, besides taking the measures to reduce corporate debt pressure such as debt-to-equity swap and assets securitization, the government should comprehensively implement proper policies, and do their best to minimize the possible shock brought by bond default.