CSRC investigating Dandong Port

CSRC investigating Dandong Port

China Securities Regulatory Commission (CSRC) has started investigations into financially troubled Dandong Port for alleged violations of securities laws.

Dandong Port was hit with financial issues in last year and was involved in a series of bond and loan defaults. The total liabilities of the port amount to around RMB37bn ($5.44bn).

Currently, most assets of the company has been frozen by the court at request of creditors.

China Lianhe Credit Rating recently decreased the port operator’s creditor rating to the lowest C.

Dandong Port, located on the boarder with North Korea, is a major gateway port in northeast China.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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