Fool's Gold Behind Beijing Loan Guarantees
The domino effect began in January when bankers reacted to rumors of a liquidity crunch at one of Beijing's most prominent loan-guarantee firms, Zhongdan Investment Credit Guarantee Co. Ltd.
Several banks that cooperated with Zhongdan smelled trouble and started calling loans they had issued to companies backed by the firm.
At the time, Zhongdan counted more than 300 clients and 3.3 billion yuan worth of loan guarantee contracts, according to the firm's President Liu Hui.
- Marriage, Sex and Character
- China Railway Corp. to Issue Bonds
- Passage to History
- Don't Expect Praises
- Investment in Agriculture Climbs
- Final Fantasy
- A Foul Find
- In Friday's Papers: Cabinet to Reduce Red Tape, Nationwide Inspection on Health Food
- Healthcare Needs Fundamental Reforms, Experts Say
- Healthcare and One-Child Policy: China's Ticking Bomb
- Sign up to receive our free daily newsletter
- Why Foxconn's Switch to Robots Hasn't Been Automatic
- Steel Industry Forges Ahead with Reform
- Heeding the Roar of China Bears
- In Wednesday's Papers: Mao's Granddaughter Makes Rich List, 21 Punished over Chongqing Sex Tapes
- Delicacies of the Chinese Dream
- Graphics：Gold Consumption Jumps to Record High in Q1
- Deputy Shanghai Mayor 'to Take over at CIC'
- Closer Look: Divining Clues on the Future of Reform
- Investment Company Asks: Can We Legally Short Sell?
- Too Big To Fail Is Bigger than Ever