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China vows zero tolerance for misconduct after bond defaults

Regulators to probe into two state borrowers and their bond underwriters

Shanghai's financial district of Pudong: Several High-profile defaults by Chinese state firms have sent shockwaves across China's corporate bond market.   © Reuters

BEIJING (Reuters) -- China will show "zero tolerance" for misconduct following a recent string of bond defaults, a meeting of the Financial Stability and Development Committee chaired by vice premier Liu He said.

Fraudulent issuance, disclosure of false information, malicious transfer of assets, and misappropriation of issuance funds will be strictly investigated, said the meeting, according to an account posted on a government website.

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