A large Chinese company has gone bankrupt


January 6, Fineko/abc.az. Chinese real estate company Shimao Group plunged into debt.

ABC.AZ reports that the company has a debt of 645 million yuan.

The company was declared insolvent because it could not repay the debt.

Dollar bonds of Shimao Group fell in price.

The company's shares, listed for sale on the Hong Kong Stock Exchange, ended the day down 5.2%.