"Bulls make money, bears make money, pigs get slaughtered"
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Shame on you! China uses public billboards to expose runaway debtors
Above throngs of busy commuters at a Shanghai railway station, four large billboards - some sandwiched between screens flashing train times - were lit up with the name of the head of a mid-sized industrial products maker. But he was not promoting his company or its goods. The Shanghai Railway Transportation Court put his name in lights earlier this month because his company failed to pay a 2.9 million yuan ($432,945) debt. A separate court in the eastern Zhejiang province issued a freezing order over his company’s assets two years ago for money owed to China Construction Bank. As growth slows, struggling borrowers ... (full story)
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