The Business Times

shadow banks

Opinion & Features

Shadow banks are too big to stay in the shadows

The Zhongrong International Trust Co. offices in Beijing, China, on Monday, Aug. 14, 2023. China's banking regulator has set up a taskforce to examine risks at Zhongzhi Enterprise Group Co., one of the nations top private wealth managers, after its unit Zhongrong missed payments on multiple high-yield investment products. Source: Bloomberg
Global Enterprise

China investors face tens of billions in losses over Zhongzhi

FILE PHOTO: The headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China, February 3, 2020. REUTERS/Jason Lee/File Photo
International

China’s credit growth still weak in October with low loan demand

Trust firms like Zhongrong are an arm of the shadow banks that sell investment products to Chinese companies and wealthy individuals.
Global Enterprise

Real estate crisis triggers new alarms over China’s shadow banks

Investors who are owed money by Zhongrong urged Chinese regulators to intervene, according to the letters sent to the agencies.
Companies & Markets

Furious Chinese investors lodge complaints over trust firm’s missed payments

A building which houses the headquarters of Zhongzhi Enterprise Group in Beijing. It has hired KPMG to review its balance sheet amid a worsening liquidity crunch.
Companies & Markets

Zhongzhi Enterprise Group plans debt restructuring, taps KPMG

A reporter who visited the Zhongrong office on Wednesday (Aug 16) afternoon didn’t see any protesters, but there was an unusually heavy police presence around the building.
International

China shadow bank crisis sparks protest by angry investors

FILE PHOTO: The financial district in Frankfurt, Germany, March 18, 2019. REUTERS/Ralph Orlowski
International

ECB calls on lenders to manage growing risk from shadow banks

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