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Caixin

In depth: Why China's ratings agencies didn't see default wave

Regulator meddling and SOE bonds in packaged investments create headaches

Regulators not only need to strengthen supervision over the ratings agencies' integrity and due diligence but also should consider structural flaws in the bond market, insiders say.   © Reuters
ZHANG YUZHE and GUO YINGZHE, Caixin | China

In the wake of the market-rocking bond default by state-owned miner Yongcheng Coal in November, one particularly unsettling fact stood out.

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