A Chinese mining boss who threw a multimillion-dollar wedding for his daughter last year is now struggling under a pile of debts that threaten to trigger a major default in the country’s shadow banking industry. Until a few weeks ago Xing Libin was known as the wealthiest man in Liulin, a county in northern China that struck it rich over the past decade thanks to bulging coal deposits. Looking more like a tousled professor than a slick tycoon, Mr Xing acquired mining rights for what local media said was “the price of a cabbage” and built his unlisted company, Liansheng Resources Group, into a big player in the Chinese coal industry. Mr Xing put his success on display in March 2012 at a Rmb70m ($11m) party to jointly celebrate his daughter’s wedding and his company’s 10th anniversary. He rented three aircraft to fly family and friends to the resort […]