Two Years Later, 1.3B Yuan Bad Debts Still Unsettled, Over 20 Court Cases

EO: 宁波慈溪一企业13亿贷款违约 7家银行苦讨债
On March 30, the Economic Observer reporter came to Hangzhou Bay New Area Binhai Road, Ningbo Kangxin Chemical Fiber Co., Ltd. (hereinafter referred to as "Kang Xin Chemical Fiber") plant, "Kang Xin Group" four characters Impressively stand on top of the plant, the guard told reporters that production is still ongoing.

As early as two years ago, in March 2015 Kangxin chemical fiber loan risk began to gradually exposed, almost all of the loans are converted into non-performing loans.

The Economic Observer learned from the central bank credit reports, Kang Xin Chemical Fiber currently seven financial institutions is still business has not yet settled, breach of contract and bad negative debt balance of 915 million, in addition, off note loan balance has reached 397 million and the current debt balance of 13.42 million from the current no progress good exposures, were most likely to convert all bad.

...It is noteworthy that, Cixi is becoming a bad debt highland in Zhejiang Province. Prior to this, Cixi small and medium enterprises to bearings, chemical fiber, white goods, auto parts and other industries renowned throughout the county in Zhejiang Province ranked first in the county.

...t the end of 2016, the non-performing loan ratio of banking institutions in Zhejiang Province was 2.17%, down 0.2 percentage points from the beginning of the year. The Economic Observer reported that Cixi local regulatory office access to materials show that in 2016, Cixi the city's non-performing rate of 6.08%, compared to 2015, Cixi non-performing rate of 4.85% of the data, Among them, CCB non-performing rate of 19.44%, bank of China 12.07% , Merchant's Bank 11.09%, ICBC 9.25%, Ping An Bank of 10.83%, Industrial Bank of 10.67%.

The economic environment into the winter, with a large area of ​​bad outbreak, the bank's passive situation is not only the new business can not find, the difficulty of collecting bad assets is also increasing.
Business is still running and the banks can't collect:
At present, Ningbo Kangxin has been caught in more than 20 legal proceedings, the majority of cases as "financial loan contract disputes", the focus of the outbreak time is 2015 so far. At the same time, with the relevant 5 out of the time of the outbreak of information is also concentrated in the period from 2015 to 2016 - after the outbreak of the Cixi City People's Court and the Ningbo Intermediate People's Court of the five required to assume their commitment to pay The judgment "all did not fulfill". "These facts can basically judge, this is a typical escape debt incident, but the bank is now almost no way." A related bank responsible person told the economic observation newspaper. "As far as we know, now Kang Xin's boss is not running the company, his friends rented his equipment and continue to produce this product, because the machine is a special equipment, can only produce this product, so the workers are his workers, the products are still those products, the discount rate on rented assets at auctions will be much lower, and it will be more troublesome for banks."

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