Former business owner worried about a possible China exit ban – looking for similar experiences

I used to own a company in Europe and had a great business relationship with several Chinese suppliers.

For about four years, we imported around 50 containers per year. Unfortunately, at the end of 2024, our business failed and the company went bankrupt.

The total debt was around €800,000:

  • Around €400,000 was covered by Sinosure.
  • The remaining €400,000 has never been paid.

I have since started working for another company as a Purchasing Manager. Part of my new job requires travelling to China to inspect goods and meet suppliers.

My biggest concern is whether I could face an exit ban or any other legal issues because of the debts from my former company.

I've already consulted three Chinese lawyers, and all of them told me that I should be safe and that they found no active court cases against me. However, I'd really like to hear from people who have been in a similar situation.

Has anyone here had a company go bankrupt while owing money to Chinese suppliers and later travelled to China without any problems?

Business failures are unfortunate, but they do happen.

Any real-life experiences or advice would be greatly appreciated.

reddit.com
u/No-Wedding4357 — 13 hours ago
▲ 15 r/China

Former business owner worried about a possible China exit ban – looking for similar experiences

I used to own a company in Europe and had a great business relationship with several Chinese suppliers.

For about four years, we imported around 50 containers per year. Unfortunately, at the end of 2024, our business failed and the company went bankrupt.

The total debt was around €800,000:

  • Around €400,000 was covered by Sinosure.
  • The remaining €400,000 has never been paid.

I have since started working for another company as a Purchasing Manager. Part of my new job requires travelling to China to inspect goods and meet suppliers.

My biggest concern is whether I could face an exit ban or any other legal issues because of the debts from my former company.

I've already consulted three Chinese lawyers, and all of them told me that I should be safe and that they found no active court cases against me. However, I'd really like to hear from people who have been in a similar situation.

Has anyone here had a company go bankrupt while owing money to Chinese suppliers and later travelled to China without any problems?

Business failures are unfortunate, but they do happen.

Any real-life experiences or advice would be greatly appreciated.

reddit.com
u/No-Wedding4357 — 13 hours ago

Former business owner worried about a possible China exit ban – looking for similar experiences

I used to own a company in Europe and had a great business relationship with several Chinese suppliers.

For about four years, we imported around 50 containers per year. Unfortunately, at the end of 2024, our business failed and the company went bankrupt.

The total debt was around €800,000:

  • Around €400,000 was covered by Sinosure.
  • The remaining €400,000 has never been paid.

I have since started working for another company as a Purchasing Manager. Part of my new job requires travelling to China to inspect goods and meet suppliers.

My biggest concern is whether I could face an exit ban or any other legal issues because of the debts from my former company.

I’ve already consulted three Chinese lawyers, and all of them told me that I should be safe and that they found no active court cases against me. However, I’d really like to hear from people who have been in a similar situation.

Has anyone here had a company go bankrupt while owing money to Chinese suppliers and later travelled to China without any problems?

Business failures are unfortunate, but they do happen.

Any real-life experiences or advice would be greatly appreciated.

reddit.com
u/No-Wedding4357 — 13 hours ago

Former business owner worried about a possible China exit ban – looking for similar experiences

I used to own a company in Europe and had a great business relationship with several Chinese suppliers.

For about four years, we imported around 50 containers per year. Unfortunately, at the end of 2024, our business failed and the company went bankrupt.

The total debt was around €800,000:

  • Around €400,000 was covered by Sinosure.
  • The remaining €400,000 has never been paid.

I have since started working for another company as a Purchasing Manager. Part of my new job requires travelling to China to inspect goods and meet suppliers.

My biggest concern is whether I could face an exit ban or any other legal issues because of the debts from my former company.

I've already consulted three Chinese lawyers, and all of them told me that I should be safe and that they found no active court cases against me. However, I'd really like to hear from people who have been in a similar situation.

Has anyone here had a company go bankrupt while owing money to Chinese suppliers and later travelled to China without any problems?

Business failures are unfortunate, but they do happen.

Any real-life experiences or advice would be greatly appreciated.

reddit.com
u/No-Wedding4357 — 13 hours ago