ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Companies

Chinese state-owned miner Yongcheng misses bond payments again

Central government convenes weekend meeting to call for stability

HONG KONG -- Yongcheng Coal and Electricity Holding Group, a state-owned miner in Henan Province, failed to repay the principal and the interest due Monday on two closely watched bonds, in the latest sign of trouble in China's fixed-income market.

The company, which had defaulted on a debt obligation two weeks ago, missed its latest payment after Vice Premier Liu He called a meeting of Financial Stability and Development Committee in Beijing on Saturday. The state-owned Xinhua reported on Sunday that the gathering called to "safeguard the stability of the bond market."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more