Caixin
May 28, 2014 05:11 PM

The Hidden Loans that Sank Nanjing Tanker

 

(Beijing) -- Nanjing Tanker Corp., China's first state-owned enterprise to lose its stock market listing following four years of consecutive losses, has been withholding information about a massive amount of debt in the form of long-term, off-balance-sheet loans drawn between 2005 and 2008, research jointly conducted by British shipping industry journal Lloyd's List and Caixin has found.

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