Suzhou’s Jingsi Garden, once hailed as “the first private garden in Jiangnan,” fails to sell at auction three times
After Failing to Sell Twice, the 4A-Level Jingsi Garden in Wujiang District, Suzhou, is Listed Again on the Ali Assets Platform for Bankruptcy Auction with a Starting Price of 105 Million Yuan on November 26; Auction Failed Due to No Bids by 10 AM on November 27
Jingsi Garden, Suzhou (Visual China Archive Image)
Jingsi Garden is located to the west of Tongli Ancient Town, covering an area of 66 acres with 36 scenic spots, and was once known as “the First Private Garden in Jiangnan”. According to the official website of the Suzhou Gardens and Greening Administration Bureau, Jingsi Garden was built in 1993 and opened to the public in 2003, featuring beautiful waters, unique stones, and ancient buildings.
Currently, the owner of Jingsi Garden is Suzhou Jingsi Garden Co., Ltd. The company was established in 2016 with a registered capital of 417 million yuan. In January 2020, the Wujiang District Court, based on the application of Chongqing Maotian Industrial (Group) Co., Ltd., ruled to accept the bankruptcy liquidation case of Suzhou Jingsi Garden Co., Ltd., and appointed a manager through public selection and random number generation. This public auction is for the disposal of bankruptcy assets.
The auction item investigation form shows that the subject of this auction is the Jingsi Garden scenic area, with a market assessment value exceeding 145 million yuan and a starting price reduced to 105 million yuan. The scenic area is currently operating normally and open to tourists. If the buyer wins the bid, they can decide whether to continue operations. The auction includes house decorations, structures, and other auxiliary facilities, Taihu stones, stone bridges, Buddhist statues, electronic equipment, stones, etc. The building area is 7,021.35 square meters, and the land use right area is 30,722.20 square meters. It is worth noting that the unlicensed building area totals 396.22 square meters, which is at risk of being demolished.
Additionally, a large number of stones (ornamental stones), stone materials, wooden products (including mahogany furniture, wooden components, round logs, etc.), rare trees, and bonsai within the garden are not included in the scope of this auction. These assets are stored in Jingsi Garden, but the Hangzhou Intermediate People’s Court has issued a civil ruling to use them as debt repayment to Wuchan Zhongda Financial Leasing Group Co., Ltd. There are also four stones for which Jinyin Financial Leasing Co., Ltd. claims ownership, located to the west of the scenic area’s entrance, which are not included in this auction.
This is not the first time that assets under the name of Suzhou Jingsi Garden have been auctioned. Since 2021, Jingsi Garden’s stone materials, ancient buildings, and seedlings have been auctioned multiple times, with many failing to sell due to lack of interest. On September 24 of this year, the Ali Assets Auction Platform auctioned Jingsi Garden as a whole with a starting price of approximately 145 million yuan, attracting over 60,000 viewers, but ultimately failed to sell due to no registrations. The second auction on October 15 had a starting price reduced to 116 million yuan, attracting 25,000 viewers, but still no bids were made.
