A grandmother in China who owed millions after her jacket business failed is praised for choosing to repay debts instead of declaring bankruptcy. Photo: SCMP composite/handout
A grandmother in China who owed millions after her jacket business failed is praised for choosing to repay debts instead of declaring bankruptcy. Photo: SCMP composite/handout

‘Honest grandma’, 92, repays US$3 million in debt in 10 years after refusing to declare bankruptcy wins ‘most beautiful’ citizen award in China

  • A factory owner who found herself in financial difficulty is celebrated in China for her commitment to repaying her debts
  • Despite advice to declare bankruptcy after her business failed, she insisted on repaying the money in full

A grandmother in China who owed millions after her jacket business failed is praised for choosing to repay debts instead of declaring bankruptcy. Photo: SCMP composite/handout
A grandmother in China who owed millions after her jacket business failed is praised for choosing to repay debts instead of declaring bankruptcy. Photo: SCMP composite/handout
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