MAJOR CHINESE SHADOW BANK DECLARES ITSELF 'SEVERELY INSOLVENT'
China's major shadow bank Zhongzhi declares 'severe insolvency' with a $36 billion shortfall, signaling liquidity problems in the $2.9 trillion Chinese shadow banking sector.
Known for real estate investments, Zhongzhi attributes the deficit to internal management issues facing operational risks.
The crisis further highlights instability in China's real estate market, raising concerns of possible contagion effects.
Source: El Pais
China's major shadow bank Zhongzhi declares 'severe insolvency' with a $36 billion shortfall, signaling liquidity problems in the $2.9 trillion Chinese shadow banking sector.
Known for real estate investments, Zhongzhi attributes the deficit to internal management issues facing operational risks.
The crisis further highlights instability in China's real estate market, raising concerns of possible contagion effects.
Source: El Pais
MAJOR CHINESE SHADOW BANK DECLARES ITSELF 'SEVERELY INSOLVENT'
China's major shadow bank Zhongzhi declares 'severe insolvency' with a $36 billion shortfall, signaling liquidity problems in the $2.9 trillion Chinese shadow banking sector.
Known for real estate investments, Zhongzhi attributes the deficit to internal management issues facing operational risks.
The crisis further highlights instability in China's real estate market, raising concerns of possible contagion effects.
Source: El Pais
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