Shi "quarrel"

Shi is undoubtedly binding the wuxi city government.
Suntech the photovoltaic enterprise once the prosperity, cannot leave wuxi city government's "go into battle stripped to the waist," shi said I summarized the wuxi city government and suntech early relationship between also evaluation way: "wuxi city government was born suntech, and regeneration the suntech."
But as the suntech gradually into a state of flux, although shi and suntech creditors are filled with expect the government to make moves rescue, a variety of interests but imbroglio prompted shi refused to wuxi city government proposed mortgage shi personal assets or will suntech nationalization plan, both former conjugal love now has become at swords' points of confrontation.
"Suntech myth burst become a burden, this is a inevitable, the government never is a failure of the investors, the government hand work into market economy results, has been repeatedly lost again. If the government out rescue even over suntech, the biggest gainer just shi said." China's energy network CEO HanXiaoPing says.
Why refuse to rescue?
Although all parties to guess always rely on wuxi city government shi, this time must by the power of the government again that suntech from "destruction", but shi refused to the government's rescue plan.
Wuxi local saying says, the wuxi city government to suntech offers two road choice: one is, the government to purchase the company next march total due $575 million convertible bonds, and then the kingdom operation capital injection aid, but the prerequisite is that need shi will all personal assets do unlimited guarantee; The other is a listed company, suntech power retreat city, implementation of nationalization.
In HanXiaoPing opinion, shi never refused to help from the government, but also between the government and has strong interest relations, the refused to just because shi can't accept the government's rescue conditions just.
"Suntech itself is a sino-foreign joint venture company, the boss shi himself is Chinese of foreign nationality, in suntech's ten years development, in addition to the suntech its name and several corporate assets, this all benefit from the support of the local government, and in this support, further expanding the shi blind expansion ambition." HanXiaoPing says.
Wuxi is a local bankers, told reporters a shi to mortgage personal assets, because he can rely on to suntech the salvage pull out and no confidence; Secondly, shi its assets many, he himself does not want to suntech is nationalization, "but the government now has been difficult to further concession, allegedly suntech still owe the government a lot of money."
's richest man prequel
If the home business is shi with development solar energy industry infinite ideal, the ideal of shi later have work into the field into more ambitions.
Shi the jiangsu Yang remote rural children, from the undergraduate course, the graduate student all the way to obtain the fee to Australia to study abroad qualification, and for Australian citizenship, becomes the local Pacific solar electric company research and development team person in charge. It is in itself a inspirational story, but his broad ideal are not limited to this.
In April 2000, has been in Australia of solar energy research shi with hundreds of thousands of dollars decided to home business, he flounder visited shenzhen, guangzhou, hangzhou, Shanghai, dalian, and other many cities entrepreneurs and government officials, although recognized, but were "career is very promising, but early half racket" decline.
In wuxi, shi found the bole. In he made a 3 hours about solar energy industry report, wuxi new district of the ac a deputy director said excitedly: "we just hope you such scientists come over when the boss, you will come to do it, do it properly general manager."
Reach the cooperation will later, jiangsu local 8 units united paid $6 million, shi the technology become a shareholder value of $1.6 million, and at the same time, in order to bind benefits and risks, shi also cash paid $400000. With the help of the government, wuxi suntech in this set up.
At the beginning of 2002, wuxi suntech were faced fund pressure, it is difficult to obtain loan from the bank, in order to deal with the crisis, the company even have 2 months did not give employees pay. In the background of the shareholders and the local government to guarantee, suntech eventually won the loans from the bank through.
Four years later, shi will suntech on the New York stock exchange publicly listed. Listed not long ago, in the suntech power stock more than $30 to shi holdings of shares of the market value calculation, he became the richest man in China, nearly 20 billion assets.
After the government support and intervention, suntech relying on government and bank to make the backing, expanding industry layout, so far, suntech has had more than 30 industry company.
"Chinese photovoltaic industry and hope, but suntech this and wuxi government stir into a group enterprise, itself have been away from the normal rule of market development, plus its blind expansion, late even if the government will its nationalization, also hard to save suntech." HanXiaoPing think.
The problem of the government
Suntech will bankruptcy? Shi to be? This is the wuxi city government there is difficult to solve the problem.
According to data shows that, at present, suntech's ratio of more than 80%, the total debt more than 3.5 billion dollars. It is reported, to march, suntech due short-term debt to nearly 2 billion us dollars, but suntech at present less than $500 million cash on hand. In order to save the suntech, before the National Day, the wuxi city government to suntech offers 200 million RMB loans, but suntech before the end of the year to repay loans about having more than 10 one hundred million yuan.
The huge debt to have been as suntech behind the "savior" wuxi city government, it has become a huge back not burden.
But so far, shi has bound the wuxi government. In addition to the above bankers has revealed the suntech owe the wuxi city government debt besides, wuxi suntech's tens of billions of bank debt, in wuxi suntech's nominal borrow, and the listed company suntech power is not out of debt, out of danger. The guess, shi's wishful thinking, it is wuxi suntech bankruptcy, and preserve the listed company suntech power and other its assets.
Obviously, has been in support of shi wuxi government don't want to act as pick up suntech mess "suckers", to salvage suntech will put forward many conditions, this time, the wuxi city government certainly will not make any further concessions.
Because in suntech debt giant hole is behind the whole pv production