The truly scarce resource is time—it never increases; it only dwindles. They say time is money, but in reality, time is far more precious than money. Few people casually borrow money from others, yet many casually borrow others' time.
In some regions, individuals can file for personal bankruptcy, which may lead to partial loan forgiveness. More accurately, this is known as personal reorganization. After a successful application, you can potentially have some debts reduced and obtain extended repayment terms.
Of course, the root cause of most bankruptcies boils down to taking on debt that was beyond one’s ability to repay.
Xinhua Bookstore is a state-supported basic education facility and a hidden monopoly. It essentially holds exclusive rights to the distribution and wholesale of domestic educational supplementary materials. In addition, early urban planning allocated prime land to it (mostly in golden locations), and it is largely exempt from rent payments, allowing it to generate over a billion yuan in annual profit.