Credit Network in China’s Zhejiang Province Crumbles

About 600 private enterprises in China are experiencing a credit crisis. This crisis was triggered by the collapse of two companies entwined in a reciprocal credit guarantee structure in Hangzhou, the capital city of eastern China’s Zhejiang Province.
Credit Network in China’s Zhejiang Province Crumbles
A general view shows the Pudong financial district in Shanghai on Nov. 1, 2011. (Mark Ralston/AFP/Getty Image)
7/30/2012
Updated:
10/1/2015
<a><img class="size-full wp-image-1784133" title="A general view shows the Pudong financia" src="https://www.theepochtimes.com/assets/uploads/2015/09/131024162-1.jpg" alt="" width="750" height="432"/></a>