19 September 2019

Hospital takes indirect Bo saga hit, fails to sell, paper says

The auction of the heavily indebted Shenzhen Longzhu Hospital, controlled by Dalian Shide Group, collapsed last Friday because of a lack of bidders, the 21st Century Business Herald reported Tuesday, citing a statement from the Shenzhen Intermediate People’s Court, which held the sale. The hospital owed more than 800 million yuan (US$130.69 million) and had not made a profit since it opened in 2007, data from the court showed. The hospital’s finances worsened after Dalian Shide chairman Xu Ming {徐明} came under investigation earlier this year over his links to fallen Chongqing party chief Bo Xilai {薄熙來}.

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