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China debt crunch

China Huarong bond repayment fails to quiet investor doubts

Debts of state debt management groups trade at steep discounts

HONG KONG -- Troubled state finance company China Huarong Asset Management on Thursday successfully completed its biggest bond redemption since default worries erupted in April, but investors remain concerned about its long-term health and that of its peers.

The company, originally set up to manage soured loans extended by Industrial and Commercial Bank of China, repaid a $900 million bond right on time, according to two people familiar with the debt.

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