HONG KONG -- Chinese state enterprises have come to the rescue of a troubled rural commercial bank in the nation's northeastern Jilin province, after it warned of losses to the tune of 1.7 billion yuan to 1.9 billion yuan ($237 million to $265 million).
China debt crunch
Chinese rural bank gets state rescue as it warns of up to $265m losses
CICC, Jilin Financial offer to take over Jiutai Bank in drive to contain debt risk
The logo of Jilin Jiutai Rural Commercial Bank. The institution, hit hard by China's property crisis, says fee reductions and concessions for borrowers under directives to support the economy have been taking a toll. (Photo by Yuki Kohara)
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