China's Bankruptcy Market to Be Standardized: Industry Insider

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Monday, March 26, 2001, updated at 09:34(GMT+8)

Business

China's Bankruptcy Market to Be Standardized: Industry Insider

Vice president of China Huarong Asset Management Corporation Li Xiaopeng recently pointed out that China's bankruptcy market need to be further standardized.

He was pin pointing the fact that Monkey King Group went bankruptcy when many of its creditors were unaware of the bankruptcy.

According to industry insiders, although China issued regulations on asset management, China still lacks the Law of Asset Management, which is unable to protect the creditors especially special creditors like asset management company.

Source: Panorama



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	Vice president of China Huarong Asset Management Corporation Li Xiaopeng recently pointed out that China's bankruptcy market need to be further standardized.




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