The People’s Bank of China (PBOC) could step in following a


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The People’s Bank of China (PBOC) could step in following a number of recent bond defaults by Chinese state-linked firms, according to Bank of Communications International’s Hao Hong. “In the past couple of weeks the default situation is somehow getting glaring,” Hong, managing director and head of research at the firm, told CNBC’s “Street Signs Asia” on Friday. “I wouldn’t be surprised to see the PBOC intervene from here,” he said. Earlier in November, state-owned coal miner Yongcheng Coal and Electricity defaulted on a 1 billion yuan (around $152.01 million) bond, catching investors off guard given the firm’s AAA-rating by...