The Urban Construction and Comprehensive Development Company of Licheng District is accused of defaulting on a 35.4 million yuan loan and 6.1 million yuan in unpaid interest. Photo: Bloomberg The Urban Construction and Comprehensive Development Company of Licheng District is accused of defaulting on a 35.4 million yuan loan and 6.1 million yuan in unpaid interest. Photo: Bloomberg
The Urban Construction and Comprehensive Development Company of Licheng District is accused of defaulting on a 35.4 million yuan loan and 6.1 million yuan in unpaid interest. Photo: Bloomberg

Qilu Bank's lawsuit against government finance body exposes rift in China's debt market

Case is odd also because the government lending vehicle is a stakeholder in the bank, according to observers

The Urban Construction and Comprehensive Development Company of Licheng District is accused of defaulting on a 35.4 million yuan loan and 6.1 million yuan in unpaid interest. Photo: Bloomberg The Urban Construction and Comprehensive Development Company of Licheng District is accused of defaulting on a 35.4 million yuan loan and 6.1 million yuan in unpaid interest. Photo: Bloomberg
The Urban Construction and Comprehensive Development Company of Licheng District is accused of defaulting on a 35.4 million yuan loan and 6.1 million yuan in unpaid interest. Photo: Bloomberg
READ FULL ARTICLE