4,700 bank­ruptcy cases in 7 months

New Straits Times - - Business -

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.

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