More executives go missing in China – this time linked to troubled shadow bank Zhongzhi

Beijing-based Zhongzhi controls nearly a dozen asset and wealth management firms. It is considered part of China’s $3 trillion “shadow banking” industry, a sector that forms an important source of finance in the country. The term usually refers to financing activity that takes place outside the formal banking system, either by banks through off-balance-sheet activities, or by non-bank financial institutions, such as trust firms.