[unable to retrieve full-text content]A series of defaults on bonds issued by Chinese state-backed companies has sent shock waves through the world’s second largest debt market in recent days, raising questions about local government guarantees and the credibility of domestic ratings.Since last week, China’s bond market has seen defaults by a mine operator, an integrated circuit maker and a car manufacturer.The non-payments have rocked investor confidence as the bonds were issued by state-controlled firms, which are usually seen as…
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