Guangdong International Trust and Investment Corporation (GITIC) was one of
People's Republic of China's largest state-owned companies. On January 16, 1999, its
bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...
was the biggest in the history of the country to date.
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References
Economy of China
Banking in China
Companies that have filed for bankruptcy in the People's Republic of China
{{PRChina-company-stub