Long road ahead for restructuring

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    clpstaff &clp articles

    Lack of workout culture may hamper company rescues in China

    Restructuring in China will continue to be a difficult process, although some of the necessary tools are now in place, expert practitioners said at a conference in Hong Kong last week.

    Although the country has come a long way since 1997, when all Chinese banks were state owned, there is still significant government involvement and close regulation by both the People's Bank of China and the China Banking Regulatory Commission. It will take some time for the distressed company culture to evolve from one of insolvency to one of restructuring.

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