China regulator to launch probe into underwriters of Yongcheng Coal bonds

Zhongyuan Bank

19/11/2020 10:25

SHANGHAI, Nov 19 (Reuters) - China's interbank bond market
regulator said on Thursday it would launch probes into three
banks for their role in underwriting bonds issued by Yongcheng
Coal & Electricity Holding Group, which defaulted last week.
    The National Association of Financial Market Institutional
Investors (NAFMII) said in a statement that Industrial Bank Co
 601166.SS , China Everbright Bank  601818.SS , Zhongyuan Bank
Co  1216.HK  are suspected of violating rules.
    NAFMII also said Xigema Certified Public Accountants and
credit rating agency China Chengxin International Credit Rating
Co are suspected of misbehavior.

 (Reporting by Samuel Shen and Andrew Galbraith; Editing by Toby
Chopra)
 ((samuel.shen@thomsonreuters.com;  +86 21 20830018; Reuters
Messaging: samuel.shen.thomsonreuters.com@reuters.net))