Troubled Chinese regional lender Baoshang Bank will file for bankruptcy and liquidate its remaining assets in a final step to clean up the mess that triggered a high-profile asset seizure by the state, the central bank said Thursday.
Caixin
China allows Baoshang Bank to go bankrupt in final cleanup
Original shareholders' and unprotected creditors' rights to be liquidated
Baoshang Bank had 556 billion yuan in assets and 290 billion yuan in bad loans by the end of 2017. © Reuters
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