Caixin
Sep 23, 2011 05:20 PM

Wenzhou Gov't Moves to Quell Protest Over Company Losses

(Wenzhou) – The Wenzhou municipal government stopped a massive protest involving thousands of investors at Center Group, a major manufacturing company, at the company headquarters September 21.

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Local officials announced later on the same day that an investigation would be launched into financial misconduct at the company.

On September 21, the chairman of Center Group, Hu Fulin, told senior management in a phone call that the company was on the verge of bankruptcy.

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