国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Economy

Hangzhou debt guarantees spark default contagion

(Agencies) Updated: 2014-04-28 11:19

"Currently, Zhejiang's economic structural adjustment and (industrial) upgrading is at a critical stage. The risk from guarantee chains is still rather large," the Zhejiang branch of the China Banking Regulatory Commission warned in February.

Mutual guarantees

Unlisted polyester yarn producer Hangzhou Jianjie Chemical Fiber Co Ltd was recently liquidated following the default of another textile firm whose debts Jianjie had guaranteed, China Business News reported.

Hangzhou debt guarantees spark default contagion
Chaori default is a welcome move

Hangzhou debt guarantees spark default contagion
First bond default signals market progress
Jianjie's collapse in turn affected five other textile firms. In all, 3 billion yuan ($480 million) in bank loans to the six firms are at risk, the paper said.

"After (Jianjie Chemical Fiber) went bankrupt and was liquidated, companies with mutual guarantees had to take on more debt," the paper quoted Zhu Rujiang, director of the Xiaoshan District Funding Chain Risk Prevention and Mitigation Leadership Group, as saying.

"They can still handle this debt, and they will have no trouble surviving, but a key requirement is that banks can't withdraw their loans," he said, according to the paper.

Zhu's group was set up to mediate between banks and companies, according to the district government's website. Zhu declined to comment when Reuters reached him by phone.

China Business News also reported that Hangzhou Zhongxin Steel Structure Manufacture Co Ltd, which makes scaffolding, had shut down and could place another 1.2 billion yuan in bank loans to four other companies at risk.

Zhongxin, whose website is no longer accessible, couldn't be reached for comment.

"The crisis of mutual guarantees is very serious and there is no good solution for this problem," said Zhou Dewen, vice chairman of the China Association of Small and Medium Enterprises in Wenzhou, another prosperous city in Zhejiang.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
泽普县| 永新县| 宝鸡市| 柞水县| 湘阴县| 阳原县| 德阳市| 连云港市| 西乌| 鹤峰县| 南汇区| 武定县| 昆山市| 镇沅| 吉水县| 泾川县| 黑河市| 四川省| 三都| 桐乡市| 龙里县| 天镇县| 宁阳县| 错那县| 高邑县| 怀宁县| 恩施市| 合川市| 定兴县| 通化市| 绩溪县| 龙岩市| 治县。| 惠州市| 南充市| 贵州省| 台江县| 安康市| 通海县| 曲松县| 巴塘县|