Goho Asset Management Co., a distressed-asset management firm backed by the government of China’s Anhui province … distressed assets to rescue troubled businesses and mitigate financial risks, …
FINANCE
Beijing court accepts shadow bank Zhongzhi’s bankruptcy application
Troubled Chinese shadow-banking firm Zhongzhi Enterprise Group’s bankruptcy application has been accepted by a court in Beijing, which would suggest the central government is ready to handle the …
China’s electric vehicle dominance presents a dilemma to the west
Companies such as BYD and Nio are targeting overseas markets, leaving governments torn between encouraging greater take-up and protecting domestic manufacturers …
Chinese Company That Sparked Fears of Financial Contagion Falls Into Bankruptcy
A calamitous year for Zhongzhi, which was a big player in China’s roughly $3 trillion trust sector, led to worries that the world’s second-largest economy was facing a “Lehman moment.”
China Deals with Debt Blow: $64 billion Zhongzhi Collapses, Raising Questions About China’s Finance
China’s $64-billion shadow bank Zhongzhi crumbles! Investors in panic, economy braces for impact. Read this article to know more about this.
Chinese shadow bank Zhongzhi files for bankrupcty
The worsening woes at Zhongzhi, a major player in China’s $3 trillion shadow banking sector — roughly the size of the French economy — add to worries that the country’s property debt crisis is …
Tesla recalls over 1.6 million EVs exported to China to fix automatic steering, door latch glitches
The recalls follow a recall in the U.S. last month of more than 2 million of Tesla EVs to improve its system for monitoring drivers.
Troubled Chinese finance giant Zhongzhi files for bankruptcy
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…
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.
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 …
