JOURNAL ARTICLE

Chinese Trust Company Clients Say Wealth Product Payout Delayed.

  • Published In: Bloomberg.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Du, Lisa 3 of 3

Abstract

(Bloomberg) -- Two clients of Chinese trust company Zhongrong International Trust Co. said the firm delayed payment of maturing wealth products amid reports of liquidity concerns at a major shareholder, the latest sign of turmoil in China's financial sector. Chinese asset management firm Zhongzhi Enterprise Group Co. - a financial giant in China whose business cuts across trusts companies, private equity and wealth management - has an ownership stake in Zhongrong. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2023/08, pN.PAG
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2023
  • Accession Number:169929488
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