Property News · November 23, 2023

Troubled Chinese shadow bank Zhongzhi warns it is ‘severely insolvent’ after asset shortfall, failed bailouts


Zhongzhi Enterprise Group, one of mainland China’s largest shadow banks, has warned investors of an asset shortfall, setting off alarm bells in the trust sector which invests a large portion of investors’ money in real estate projects.

Source : South China Morning Post
Read more…Troubled Chinese shadow bank Zhongzhi warns it is ‘severely insolvent’ after asset shortfall, failed bailouts