The self-declared status of one of China’s largest shadow banks as “severely insolvent” has revealed another crack in a distressed financial system. Beijing may have to step in.
FINANCE
China’s services sector to open up for more investment
Beijing: The Chinese government plans to gradually extend practical liberalisation measures in the services sector from Beijing to other provinces and cities, further expanding market access for …
Beijing-based AIIB to extend $300mn in loans to Turk Eximbank
By bne IntelIiNews Beijing-based Asian Infrastructure Investment Bank (AIIB) on November 22 approved $300mn in loans for Turkish government-run Turk Eximbank, according to a statement from the …
FirstFT: China launches investigation into shadow bank Zhongzhi
Also in today’s newsletter, Hamas freed 17 captives yesterday and what we’ll learn from an upcoming OpenAI employee stock sale …
China opens probe into troubled shadow banking giant Zhongzhi
Police in Beijing said in a statement on WeChat that they took “criminal mandatory measures” against multiple suspects, identifying one by the last name Xie. They urged investors to report cases or …
China Opens Probe Into Indebted Asset Management Firm
Chinese police have opened an investigation into Zhongzhi Enterprise Group after the debt-ridden financial giant declared itself insolvent.
Chinese authorities open probe into troubled shadow bank Zhongzhi, detain suspects
Police in Beijing have imposed ‘criminal compulsory measures’ against several suspects at Zhongzhi Enterprise Group, after the shadow bank reported an asset shortfall of US$36 billion earlier this …
China backs ‘around 170 measures’ to open up services sector in Beijing as capital outflows, sluggish recovery bite
Measures aimed at aligning with ‘international high-standard economic and trade rules’, Chinese commerce vice-minister Ling Ji says.
China Opens Probes of Troubled Shadow Banking Giant Zhongzhi
Chinese authorities said they recently opened criminal investigations into the money management business of Zhongzhi Enterprise Group Co., days after the embattled shadow banking giant revealed a …
China Development Bank issues over 100b yuan in special loans for energy supply
BEIJING – China Development Bank, one of the country’s policy banks, has issued more than 100 billion yuan ($14 billion) of special loans to support energy supply since the beginning of this year.
China’s shadow banking sector in trouble? Wealth manager Zhongzhi on Xi Jinping’s radar
Beijing police are investigating suspected crimes committed by Zhongzhi Enterprise Group, a leading Chinese wealth manager, according to a social media post published by the Chaoyang Public Security …
Chinese Premier Li Qiang picked to head finance commission as Xi Jinping delegates duties
The unexpected appointment makes him the first official to lead a top Communist Party organisation that would typically be chaired by Chinese president.
China’s ‘black box’ causing HUGE economic problems – ‘the lack of transparency is a serious threat’
The economic crisis in China “is one of faith of the Chinese investor” in their own system of government, according to a specialist who warns that the country is threatened by its “lack of …
