{"id":12483,"date":"2011-10-02T12:32:30","date_gmt":"2011-10-02T16:32:30","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=12483"},"modified":"2011-10-02T12:32:30","modified_gmt":"2011-10-02T16:32:30","slug":"chinas-debt-heavy-business-bosses-on-the-run","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2011\/10\/chinas-debt-heavy-business-bosses-on-the-run","title":{"rendered":"China&#8217;s Debt Heavy Business Bosses On The Run"},"content":{"rendered":"<figure id=\"attachment_12484\" aria-describedby=\"caption-attachment-12484\" style=\"width: 250px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-12484   \" title=\"loanshark\" src=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/10\/loanshark-250x147.jpg\" alt=\"Loan Shark\" width=\"250\" height=\"147\" srcset=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/10\/loanshark-250x147.jpg 250w, https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/10\/loanshark-150x88.jpg 150w, https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/10\/loanshark.jpg 640w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/><figcaption id=\"caption-attachment-12484\" class=\"wp-caption-text\">Poster for Chinese action thriller movie THE LOAN SHARK<\/figcaption><\/figure>\n<p>A lending crisis is brewing in the eastern Chinese province of  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tZhezian, after more than 20 company bosses have fled in recent weeks, leaving  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tmillions of dollars in unpaid loans linked to unofficial lenders.<\/p>\n<p>Three of the runaway company heads each left more than 1 billion yuan (US$156  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tmillion) in loans unpaid, according to Zhou Dewen, chairman of the Wenzhou SME  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t(small and medium-sized enterprise) Development Association.<\/p>\n<p>Businessmen have been forced to turn to private lenders for help in the wake of  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\ttighter central government loan policies introduced late last year to fight  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tinflation. The higher interest rates that are demanded by the underground  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tlenders can become particularly onerous when the businesses do not run as well  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tas expected.<\/p>\n<p>Money from government officials has been found to be involved in many  cases of illegal loans to business owners who are now fleeing the area  after finding they are unable to pay back the money, Xinhua news agency  reported yesterday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since April, many Chinese business bosses have disappeared, believed to have fled the country, leaving millions of dollars in unpaid debts linked to loan sharks. <\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[91,98],"class_list":["post-12483","post","type-post","status-publish","format-standard","hentry","category-business","tag-china","tag-financial"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/12483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=12483"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/12483\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=12483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=12483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=12483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}