An investigation into a troubled Chinese state-owned coal miner was escalated to the country’s securities regulator, as authorities pile pressure on the company whose recent default rattled the bond market.
The National Association of Financial Market Institutional Investors, a self-regulating body supervised by China’s central bank, said late Tuesday that it had sent leads related to suspected violations of laws and regulations by Yongcheng Coal & Electricity Holding Group Co. to the China Securities Regulatory Commission....
Dipchits and Douchebaggatry
In China, the Chinese government often ACTS as a backer of the credit of state-owned enterprises, which in turn issues bonds on state credit.
I guess, in China, defaults from infrastructure construction and downward industries such as mining should be pay higher attention to prevent bigger systematic financial risks. Bond market is relatively less important than that. Our bond market is not that developed.
CALL-CONTACT Cyrus Vance Jr & Letitia James of NY (DAILY) to prosecute orange 🍊 dude for ALL of it! He shouldn’t be allowed to get away with DECADES of his SH! Dude needs some PRISON time for SOMETHING! COVID deaths at the very least ! & Rudy G! ...& ALSO..Happy Thanksgiving!
They have to take a tough stance, because a large part of the Chinese private sector is continually on the verge of defaulting & only survives thanks to government money