Suntech, Chinese Solar Giant, Goes Bust

Keith Bradsher of the New York Times reports that China’s Suntech Power Holdings, one of the world’s largest makers of solar panels, was declared bankrupt on Wednesday: Suntech was the Icarus of the solar panel...

China’s Hidden Bankruptcy

From Economic Observer Online: Throughout 2008, only 3,500 enterprises formally filed for bankruptcy in China. Hiding behind this tiny number however is the approximately 800,000 businesses that exited the market by either...

China Toy Firms are the Latest to Suffer

Hit by the world economic crisis and new product regulations, Chinese toy companies are scrambling to stay viable. From Times Online: One after another, once-bustling factories are falling silent and closing their doors while...

Who Can Deal with Non-performing Assets Better? – Li Zhigang

Central governments have always wanted to get rid of huge, bad debts, but there are no policies that clearly define what bad debts are exactly or how to deal with them. As a result, many local governments mix some high quality assets with bad ones, bankrupt them, and thus escape the loans from banks. From […]

China Starts New Bankruptcy Law – BBC

From BBC News: China has introduced a new bankruptcy law that gives creditors precedence over workers when it comes to claiming the assets of failed companies. The law also means that, for the first time, private Chinese firms that have failed will be allowed to collapse. Previously they existed in a legal limbo – their […]

China to Approve Bankruptcy of Over 500 State-Owned Enterprises – Xinhua

From Xinhuanet: China plans to approve the bankruptcy of around 500 more struggling state-owned enterprises (SOE) by the end of this year. According to the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council, more than 2,000 SOEs will go bankrupt before 2008. The commission has approved 619 of them. Li Wei, deputy […]

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