Chinese police have opened an investigation into Zhongzhi Enterprise Group after the debt-ridden financial giant declared itself insolvent.
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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 …
Chinese Premier Li Qiang picked to head finance commission as Xi Jinping continues to delegate duties
The unexpected appointment makes him the first official to lead a top Communist Party organisation that would typically be chaired by Chinese president Analysts say decision might be driven by shifts …
China’s new forex party chief will oversee US$3 trillion in reserves while trying to stabilise the yuan
Zhu Hexin’s political pedigree is a bit different than some of his predecessors, starting with a factory job and working his way to the upper echelon of Chinese finance Appointment comes as Beijing …
Beijing positive on HK’s economic outlook: chambers
Beijing has expressed full confidence in Hong Kong’s economic and investment outlook and has again given assurances that the city’s governing …
China weighs unprecedented builder support with first-ever unsecured loans
Authorities are finalising a draft list of 50 developers eligible for financial aid that includes Country Garden Holdings Co. and Sino-Ocean Group.
China wealth manager Zhongzhi flags insolvency, $64 bln in liabilities
China’s Zhongzhi Enterprise Group, a leading wealth manager, told investors it is heavily insolvent with up to $64 billion in liabilities, threatening to reignite concerns that the country’s property …
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