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Caixin

The rapid fall of China's most famous corporate raider

Baoneng Investment is now $31bn in debt after forays into cars, cell phones fell short

Baoneng faces employees demanding unpaid wages, suppliers clamoring for overdue payments and creditors seeking loan payments.   © AP

Baoneng Investment Group, a Shenzhen-based private property and financial services company, is the latest Chinese conglomerate to face a massive debt crisis. Baoneng is best known for its failed 2015 hostile takeover attempt of major property developer China Vanke.

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