4,700 bankruptcy cases in 7 months

Chinese courts handled more than 4,700 bankruptcy cases in the first seven months of this year, up “steadily” during the same period of last year as Beijing stepped up its campaign against “zombie firms”, said a senior official with the judiciary yesterday. He said after 2009, the number of bankruptcy cases in China went into decline with creditors finding it difficult to bring insolvency cases in the courts, but subsequent reforms had improved the situation.