[ad_1] The troubled firm reportedly told investors in November its liabilities had outstripped its assets. [ad_2] Source link
Tag: Zhongzhi
Live news: Zhongzhi files for bankruptcy in blow to China’s $3tn shadow banking sector
[ad_1] US employment: Economists forecast the US economy to have added 170,000 jobs in December, down from 199,000 jobs added in November and for the unemployment rate to tick up…
More executives go missing in China – this time linked to troubled shadow bank Zhongzhi
[ad_1] 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…
Zhongzhi Enterprise Group: China investigates major shadow bank for ‘crimes’
[ad_1] Zhongzhi Enterprise, one of China’s biggest shadow banks, has lent billions to real estate firms. [ad_2] Source link
Beijing police launch investigation into troubled wealth manager Zhongzhi
[ad_1] The office building of Zhongrong International Trust, a trust company partially owned by Zhongzhi Enterprise Group, in Beijing, China August 22, 2023. REUTERS/Florence Lo Acquire Licensing Rights SHANGHAI, Nov…
China wealth manager Zhongzhi faces $37bn asset shortfall
[ad_1] SHANGHAI — Chinese wealth manager Zhongzhi Enterprise Group has told investors that it is severely insolvent with a financial shortfall of up to 260 billion yuan ($36.7 billion), as an economic…