Aug 27, 2022 02:56 AM

FINANCE

Two Rural Lenders in Northeastern China Set to Enter Bankruptcy

By Wu Xiaomeng and Denise Jia

Liaoyang Rural Commercial Bank Co. Ltd. and Liaoning Taizihe Village Bank Co. Ltd. are the latest bankruptcy cases since the 2020 collapse of Baoshang Bank.

Liaoyang Rural Commercial Bank Co. Ltd. and Liaoning Taizihe Village Bank Co. Ltd. are the latest bankruptcy cases since the 2020 collapse of Baoshang Bank.

China’s banking regulator agreed in principle to allow two rural lenders in northeastern China’s Liaoning province to enter bankruptcy proceedings, the regulator said Friday in a statement on its website.

Liaoyang Rural Commercial Bank Co. Ltd. and Liaoning Taizihe Village Bank Co. Ltd. are the latest bankruptcy cases since the fall two years ago of Inner Mongolia-based regional lender Baoshang Bank.

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