After 20 10, the state issued a real estate control policy, and the steel price plummeted by 20 1 1, and most steel trading enterprises in Shanghai fell into a situation of huge losses and broken capital chain. Since 20 12, many enterprises have been jointly sued by banks, and steel traders everywhere have gone bankrupt, bearing the brunt in the industrial chain. Steel traders were blacklisted for violating their promises to banks. In 20 13 years, the sales profit rate of the steel industry was only 0.65%, and the steel trade industry itself was unsustainable.
Especially in 20 12, Li Guoqing, a native of Zhouning, disappeared after being taken away by the procuratorate to assist in the investigation, and it was rumored that he defrauded the loan 10 billion yuan. Li Guoqing is the chairman of Wuxi Yizhou Group, and all its companies have filed for bankruptcy, involving dozens of cases.
Since then, major banks have listed steel trading enterprises as cautious industries and adopted a gradual withdrawal method to recover losses. As a capital-intensive industry, the bank's credit restrictions have a great negative impact on its development.
It is worth mentioning that Zhou Huarui, as the initiator of financing modes such as joint guarantee and mutual insurance, chattel pledge and guarantee by guarantee institutions, has also been involved in more than 20 financial loan contract disputes, involving financial institutions such as Minsheng Bank, China Everbright Bank, Industrial Bank and Postal Savings Bank.
Because mutual insurance is implicated, Zhou Huarui is just a microcosm. According to the statistics of Zhouning Shanghai Chamber of Commerce, in 20 13, 80% of Zhouning steel trading enterprises went bankrupt or were on the verge of bankruptcy due to bank loans, more than 700 people were wanted, more than 300 people were imprisoned, thousands of enterprises became defendants, and tens of thousands of credit cards were seriously overdrawn.