CCB's Zhejiang Branch Caught in Loan Crisis

(Beijing) – China Construction Bank's Zhejiang Province division is embroiled in a toxic loan crisis following the collapse of Hangzhou-based conglomerate Zhejiang Zhongjiang Holding Co. Ltd.

The branch lent 3 billion yuan to companies directly or indirectly tied to Zhongjiang, a source from the bank said, citing internal probe results.