Many developers used Zhongzhi to finance their projects during China’s real estate boom. (AP pic) BEIJING: Chinese asset management giant Zhongzhi Enterprise Group has filed for bankruptcy and was unable to pay its debts, a…
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Major Chinese shadow bank files for bankruptcy
The troubled firm reportedly told investors in November its liabilities had outstripped its assets.
Troubled China Shadow Bank Zhongzhi Files for Bankruptcy
Chinese shadow banking giant Zhongzhi Enterprise Group Co. filed for bankruptcy, cementing the rapid downfall of a firm that oversaw more than $140 billion at its peak before succumbing to the …
Chinese Financial Conglomerate Zhongzhi Declares Bankruptcy
The bankruptcy follows a calamitous year in which Zhongzhi sparked fears that the world’s second-largest economy was facing a “Lehman moment.” …
Citi to launch China-based investment banking unit by ‘end of 2024’
Citigroup reportedly has plans to create a wholly owned China-based investment banking unit by the end of 2024.
China launches tit-for-tat anti-dumping enquiry into EU brandy
China has begun an anti-dumping investigation on brandy imported from the European Union, it said on Friday, a step likely to increase tensions with the bloc that is scrutinising Chinese electric vehicle subsidies and biodiesel…
China unveils 3-year ‘data action plan’ as Beijing seeks to boost growth through tech
China’s newly created National Data Administration has unveiled a three-year action plan to use the country’s massive troves of data to boost the economy.
Exclusive-China’s State Banks Act to Stem Yuan Slide Onshore and Offshore -Sources
China’s major state-owned banks were active in onshore and offshore foreign exchange markets this week trying to contain the yuan’s slide, four people with direct knowledge of the matter said. The …
China Launches Anti-dumping Probe Into Imported EU Brandy
China said Friday it had launched an anti-dumping investigation into brandy imported from the European Union, as commercial tensions flare between the two trading superpowers.
China’s Xpeng claims its latest EV model could be an industry ‘game changer’
Chinese electric vehicle company Xpeng said Friday that its newly launched X9 model could be a “game changer” in the industry.
Finland unit Amer’s US$1 billion New York IPO to help Chinese sportswear maker Anta chase down likes of Nike, Adidas at home
Amer, which is known for its Wilson tennis rackets and Salomon ski boots, has applied for a listing in New York and will probably be valued at as much as US$10 billion after the stock…
Covid vaccine misinformation resurfaces after China’s winter surge in respiratory illnesses
Social media posts have falsely claimed that children vaccinated for Covid-19 in China were more vulnerable to a surge in respiratory illnesses last winter. Health experts and public health …
Coronavirus could impact NHL’s plans to play in China this year
The coronavirus epidemic could impact the National Hockey League’s plans to have preseason games in China later this year, according to a report on the North American league’s website. The NHL held …