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China’s bond market regulator on Thursday launched an investigation into a default by a state-owned coal mining company after its unexpected bond defaults roiled bond market.
The National Association of Financial Market Institutional Investors (NAFMII) said it was launching a “self-disciplinary” investigation into Yongcheng Coal & Electricity Holding Group Co Ltd.
Yongcheng, which just last month was given the highest possible rating by a domestic credit rating agency, failed to repay . . .
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