Runaway Bosses Are Back

SCMP: China’s runaway bosses a symptom of economic woes
Wanted posters for fugitive debtors, not commercials, are the main images that flash up on a big electronic screen in downtown Yixing, in the heart of the faltering Chinese industrial powerhouse that is the Yangtze River Delta.

The posters, from the local courts, show the identity card numbers and pictures of dozens of people who have fled unpaid debts. Rewards ranging from 20,000 yuan (HK$23,000) to 330,000 yuan are offered to anyone reporting their whereabouts.
Says one entrepreneur facing problems:
“I found I had stepped into a nightmare – most of my buyers are state-owned enterprises (SOEs),” he said. “Asking them to pay for what they’ve bought just seems like a tough battle.”

...“I’m not sure if my [state-owned] buyers have financial troubles,” Qian said. “It’s just hard to get a penny from them. Taking that as a lesson, I will shy away from any industry where buyers are SOEs.”
Prior coverage:
Wenzhou factory owners run away from debt
228 bosses have fled
Round 2: Wenzhou Bosses Flee Again, This Time From Bad Real Estate Bets
Bosses Are Running Again; High Interest Lending Beats Firework

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