Financial News
Written by: Zhang Weilun
2020-11-20 20:24
Last update date: 2020-11-20 20:24
The bond default of Brilliance China (1114), the controlling shareholder of Brilliance Auto, has attracted considerable attention from market participants. The China Securities Regulatory Commission also pointed out that it has launched a special inspection of Brilliance Auto in accordance with the law. The suspected violation of information disclosure was filed for investigation.
The China Securities Regulatory Commission also pointed out that the intermediary agencies involved in Brilliance Auto’s relevant bonds will be simultaneously checked, and relevant violations of laws and regulations will be strictly investigated.
The press release issued by the China Securities Regulatory Commission on its website pointed out that it attaches great importance to the protection of the legitimate rights and interests of investors, fully implements the "zero tolerance" requirements of the Financial Commission of the State Council, strictly cracks down on various violations in accordance with the law, and maintains a sound bond market order.
At the same time, the China Securities Regulatory Commission will continue to maintain and play a good role in the normal function of the bond market, and support the legal and regulatory development of enterprises of various ownerships through the bond market.
In the next step, the China Securities Regulatory Commission will do a good job of supervision in accordance with the law, firmly hold the bottom line of avoiding systemic risks, deepen reforms, improve systems, implement responsibilities, and strict supervision to promote the stable and healthy development of the bond market.
Brilliance Group's bankruptcy and restructuring experts point out three reasons, expected credit bond market sentiment will be affected
State-owned enterprise Brilliance Group declares bankruptcy and long-term mismanagement and total liabilities exceed 50 billion yuan
China Securities Regulatory Commission Brilliance China Automotive
