China fertiliser maker on brink of bankruptcy rallies 45%

BEIJING: An insolvency case in a remote city on the Tibetan Plateau shows how in China, most outcomes are better than getting booted out of the stock market.

A local court in Qinghai -- a huge and sparsely-populated province that’s home to the country’s largest lake -- threw a lifeline to Qinghai Salt Lake Industry Co. when it accepted a creditor’s request to restructure the firm. Stock investors took it as a sign the struggling state-owned potash producer will survive: the shares are up 45% since the petition was filed in August.