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5 months ago

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China wealth manager Zhongzhi flags insolvency, $64 billion in liabilities

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China wealth manager Zhongzhi flags insolvency, $64 billion 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 debt crisis is spilling over into the broader financial sector.

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China wealth manager Zhongzhi flags insolvency, $64 billion in liabilities

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China wealth manager Zhongzhi flags insolvency, $64 billion in liabilities

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