Aug 16, 2023, 12:10 PM
The Chinese shadow bank Zhongrong ($138 billion in assets under management) is no longer paying its debts, and doesn't give a damn.
Debt maturity repayment payments have not been made and the company has no repayment schedule.
"Be patient," she says
Zhongrong is one of the largest companies in the country's $2.9 trillion trust sector.
The company has 270 high-yield products with a total value of 39.5 billion yuan ($5.4 billion) maturing this year...
https://www.bloomberg.com/news/articles/...#xj4y7vzkg
Debt maturity repayment payments have not been made and the company has no repayment schedule.
"Be patient," she says
Zhongrong is one of the largest companies in the country's $2.9 trillion trust sector.
The company has 270 high-yield products with a total value of 39.5 billion yuan ($5.4 billion) maturing this year...
https://www.bloomberg.com/news/articles/...#xj4y7vzkg
