China Investigates Major Shadow Bank for Financial Crimes
Dec 1, 2023 ·
45s
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Description
Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms. Zhongzhi Enterprise Group has an asset management arm...
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Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms.
Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.
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Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.
Information
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