(Bingyin August 22), September 25, 1986, China's first bankruptcy enterprise - explosion-proof equipment factory in Shenyang whole auction.

1986 9 25, recently declared bankruptcy Shenyang City explosion-proof equipment, factory whole auction. Shenyang City gas supply company bid $ 200,000, and bought the bankrupt enterprises of all plant, equipment, finished products, and other riches. Shenyang City explosion-proof
Instruments Factory officially declared bankrupt on August 3, 1986, when the plant a total of five hundred thousand yuan in debt. The $ 200,000 in auction proceeds pro rata repayment to creditors.
corporate bankruptcy, this is the first time in China.