China's first bankruptcy

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Revision as of 06:32, 25 September 2009 by imported>Ciic (Created page with 'On September 25, 1986, Shenyang Explosion-Proof Device Factory, which had declared bankruptcy a month prior, was auctioned off for 200,000 yuan (US$29,280). All assets were s...')
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On September 25, 1986, Shenyang Explosion-Proof Device Factory, which had declared bankruptcy a month prior, was auctioned off for 200,000 yuan (US$29,280). All assets were sold to compensate its creditors. It was the first bankruptcy to take place in China.

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