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China's latest bond default raises red flags for investors

People along the bund near the Lujiazui Financial District in Shanghai, China. Bondholders claim in an Aug 23 filing on the Shanghai Stock Exchange's website that Wuyang Construction Group Co didn't disclose a raft of transgressions in sale documents for 1.36 billion yuan in bonds.

Hong Kong

FOREIGNERS have been slow to warm to China's domestic bond market, the world's third-largest by value. A look at the latest corporate default may explain why.

Wuyang Construction Group Co, a builder in the eastern province of Zhejiang, defaulted on two put-able notes...

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