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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

2 weeks ago
Amedeo Tumolillo
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.
By Amedeo Tumolillo
Amedeo Tumolillo is the editor-in-chief of SupChina and award-winning multimedia journalist. He previously worked at The New York Times and Spectrum. Follow him on Twitter at @hellotumo.