China in 2 minutes a day
Top news and analysis delivered to your inbox

In a rare development, the state-owned Dongbei Special Steel starts a bankruptcy process after failed debt-to-equity swap talks, bond defaults and its former chairman’s death

he start of bankruptcy proceedings for Dongbei Special Steel, a state-owned enterprise that is saddled with debt and tied to the Liaoning provincial government, highlights the difficulty of dealing with government-backed firms and their financial struggles.
11 months ago
Amedeo Tumolillo
By Amedeo Tumolillo
Amedeo Tumolillo is an editorial consultant with SupChina and award-winning multimedia journalist. He previously worked at The New York Times and Spectrum. Follow him on Twitter at @hellotumo.
China in 2 minutes a day
Top news and analysis delivered to your inbox