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Chinese coal miner accused of violations in bond sales

Yongcheng's note holders agree to extended payment with state-owned company

HONG KONG -- A Chinese state-owned coal miner is accused of wrongdoing in a bond issuance that has sparked turmoil in the mainland's financial market.

An investigation of Yongcheng Coal and Electricity Holding Group's issuance of a 1 billion yuan ($152 million) short-term note found evidence of "violations of laws and regulations," the National Association of Financial Market Institutional Investors alleged on Tuesday.

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