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Automobiles

China regulator fines parent of BMW partner over false accounting

Huachen Automotive found to have cited inflated profits when selling bonds

BMW's top China executive said at the Shanghai auto show this week that the company's joint venture has not been affected by Huachen's troubles.    © Reuters

HONG KONG -- China's securities regulator has fined Huachen Automotive Group Holdings and a group of current and former executives almost $9 million over false and incomplete disclosures made during bond sales by the bankrupt corporate parent of BMW's local joint venture partner.

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