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China debt crunch

Chinese province turns to highway operator to bail out Yongcheng

Henan Transport takes minority stake in coal company that missed bond payments

Henan Transport, a holding company for toll roads and infrastructure assets, will buy a 9.5% stake in Yongcheng Coal and Electricity to rescue the struggling coal miner.   © AP

HONG KONG -- China's Henan Province has lined up a state-owned company to help bring an end to a series of bond defaults by Yongcheng Coal and Electricity Holding Group that have sparked concerns about local government debt around the country.

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