Aug 15, 2013 03:45 PM

Guangdong Coal Company Suspends Operations on Bad Debts

By staff reporter Tian Lin

(Beijing) – A large private coal company in Guangdong Province has suspended operations with at least 9 billion yuan in unpaid loans owed to local banks.

Bankers from the branches of China Construction Bank, Bank of China and several smaller banks said they had been forced to classify loans to Lanyue Energy Development Co. Ltd. as non-performing. The loans total more than 9 billion yuan.

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