750 China enterprises went bankrupt in the first of 2 months in 2020

750 enterprises went bankrupt within 60 days, highlighting the importance of supplier auditing service before placing any big order in China now.

According to the data released by People's Court Announcement (https://rmfygg.court.gov.cn), as of March 01, 2020, 750 enterprises in Mainland China went bankrupt during the first 2 months in 2020 with different reasons. From Jan 25 to Feb 21, 249 enterprises closed the door, among them 55 of them are from Guangdong, Zhejiang,Jiangsu and Shandong has 32,30 and 21 respectively. The rest is scattering over 26 provinces or areas from Mainland China. From the data we found that 92% of the broken enterprises are private companies and the rest 8% are state-owned companies.

More and more clients are seeking third-party auditing services to control the risk during their business in China.Our supplier inspection & auditing service saw a 30% increase since last month in such cases as it can play an important role in reducing the risks in doing business in China. Supplier inspection is the first step to their successful business in China, especially for large orders. You do not have to travel around China and visit your suppliers now in person under such severe COVID-19 contagion risk. Try our Supplier Inspection & Auditing Service now to find out the truth for you in China.

 #auditing #inspection #supplier #verification #visits #chinatrip