<\/p>\n
<\/iframe><\/p>\n<p>This company\u2019s entry in the US; market; along with other aluminum giants is said to have caused the shutdown of a large number of Aluminum manufacturers based in the US. It seemed that local US companies were unable to compete with state backed companies which were taking advantage of the free trade agreement.<\/p>\n<p>However, the trade tariffs along with recent events have in turn caused this firm to become insolvent. It\u2019s founder is now being detained by the US under fraud charges.<\/p>\n<hr>\n<p>China Zhongwang Holdings Limited is known as the \u201cKing of Aluminum in Asia. On October 15th, China Zhongwang suddenly announced its subsidiaries \u201chad suffered significant losses and operational difficulties. Despite efforts from various parties, they are unable to solve the current problems on their own.\u201d The two subsidiaries mentioned are the primary companies of the corporate business.<br \/> The debt crisis of Chinese companies is spreading, which can bring about a serious financial crisis in China. For example, China\u2019s big business conglomerate, Baoneng Group, has experienced increasing strain on its capital chain. Currently, it has defaulted on at least nine items of trusts, involving a total of about $3.1 billion US dollars. Moreover, it has seen a rising risk factor for its subsidiaries, with frequent news about equity pledges, property freezes, and legal proceedings.<\/p>\n<p>Have questions? Do you have something to share with us about China? We want to hear from you!<br \/> Email: <a href=\"mailto:Cinsights.subscription@gmail.com.\">Cinsights.subscription@gmail.com.<\/a><br \/> Facebook <a href=\"http:\/\/www.facebook.com\/EyesOnChina\">www.facebook.com\/EyesOnChina<\/a>.<\/p>\n<p>Copyright @ China Insights 2021. Any illegal reproduction of this content in any form will result in immediate action against the person(s) concerned.<\/p>\n<div class=\"more-link-wrapper\"> <a class=\"more-link\" href=\"https:\/\/lifeboat.com\/blog\/2021\/11\/china-corporate-debt-crisis-spreads-zhongwang-suspended-in-stock-market-fraud-conviction-in-u-s\">Continue reading \u201cChina: Corporate debt crisis spreads\/Zhongwang: suspended in stock market & fraud conviction in U.S.\u201d | ><\/a><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This company\u2019s entry in the US; market; along with other aluminum giants is said to have caused the shutdown of a large number of Aluminum manufacturers based in the US. It seemed that local US companies were unable to compete with state backed companies which were taking advantage of the free trade agreement. However, the [\u2026]<\/p>\n","protected":false},"author":609,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43,45,1496],"tags":[],"class_list":["post-129777","post","type-post","status-publish","format-standard","hentry","category-business","category-finance","category-law"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/129777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/609"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=129777"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/129777\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=129777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=129777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=129777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}