Beijing auto company goes bankrupt - Xinhua

Newswire

BEIJING, Nov 30 (Reuters) - One of China's oldest light vehicle makers, Beijing Second Auto, has been declared bankrupt after heavy financial losses forced it to shut shop three years ago, the official Xinhua news agency said on Wednesday. The Beijing No. 1 Intermediate Court had reached its verdict after the company filed for bankrupcy, Xinhua said. The company, which was created in the mid-1950s, ran into difficulties due to its old-style products, poor sales and inefficient ...

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