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Chinese securities regulator has proposed removing a requirement for bond issuers on the country’s stock exchange markets to have credit ratings, in a move to make it easier for company to get funding by bond sales.
The China Securities Regulatory Commission (CSRC) didn’t keep the clause on ratings in a new draft of guidelines on issuance and trading of exchange-listed corporate bonds that it published late Friday.
The proposal represents a response to a rash of corporate bond defaults in the last two years by some highly rated companies and . . .
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