Caixin OnlineFinance & EconomicsTop Stories Finance Beijing Loan Guarantee Firm Teeters on the Edge
08.14.2012 17:29

Beijing Loan Guarantee Firm Teeters on the Edge

Company named Zhongdan is linked to 22 banks, 294 businesses and loans totaling more than 3 billion yuan
By staff reporter Ma Yuan
a

(Beijing) – A prominent loan guarantee firm in Beijing will go bankrupt if no restructuring plan can be agreed upon by August 20.

Zhongdan Investment Credit Guarantee Co. Ltd., established in 2003, has been caught in a liquidity crisis since January, when its capital chains reportedly started falling apart. This prompted banks and clients allegedly tricked into depositing their borrowed money with the firm to demand immediate repayment.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now
COMMENTS (0)
Sign up to receive our free daily newsletter

LATEST VIDEOS

Latest Issue
On the Cover:

Lost in an African Maze

How a slick businessman and an offshore project in Angola led the oil giant Sinopec astray


Issue 93
September, 2015

POPULAR GALLERIES

SUBSCRIPTIONS

Caixin-China
Economics & Finance
Latest Issue:
Lost in an African Maze
How a slick businessman and an offshore project in Angola led the oil giant Sinopec astray
Issue 93
09.01.2015

Subscribe       |       Newsletter        |        FAQ