Transcribed

China Investigates Major Shadow Bank for Financial Crimes

Dec 1, 2023 · 45s
China Investigates Major Shadow Bank for Financial Crimes
Description

Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms. Zhongzhi Enterprise Group has an asset management arm...

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Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms.
Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.
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Author Africa Business Radio
Organization Africa Business Radio
Website -
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