China’s private companies making a pig’s ear out of paying their bills as economic slowdown bites

//China’s private companies making a pig’s ear out of paying their bills as economic slowdown bites

China’s private companies making a pig’s ear out of paying their bills as economic slowdown bites

Few companies are more symbolic of the horrible year experienced by China’s private sector in 2018 than Chuying Agro-Pastoral Group.The pig breeder from Henan, a province in Central China’s Yellow River Valley, defaulted on a bond worth a total of 1.5 billion yuan (US$223 million) last year. It then made headlines in China in November when it offered to repay holders of debt it had defaulted on with ham or pork products.To compound matters, large numbers of its livestock starved to death, with…

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By | 2019-03-13T23:15:03+00:00 March 13th, 2019|Headlines|Comments Off on China’s private companies making a pig’s ear out of paying their bills as economic slowdown bites