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Surprise bond defaults by state-owned companies trigger bond market selloff, prompt regulator investigation

Last updated on November 13, 2020

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.

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