China in doldrums after Xi fiasco: China's finance giant MISSES payments

[ProudThamizhan]

Manufacturing is moving out of China. Property market is in shambles. Confidence in CCP's ability to manage has crashed. Quixotic banana republic moves such as ANT, AliBaba abductions, disappearance of Foreign Minister without explanation ....
Now this:

China Shadow Banking Giant Alarms Investors With Missed Payments

One of China’s largest private wealth managers has triggered fresh anxiety about the health of the country’s shadow banking industry after missing payments on multiple high-yield investment products.

www.bloomberg.com

 

[Get Ya Wig Split]

Everything is fine in China, word to my ccp bot @beijingwalker

 

[ProudThamizhan]

poor slobs, I don't want to tell them what's happening to their semi star SMIC.

 

[dbc]

It‘s not just Zhongzhi Enterprise Group Co. Ltd but Country Garden too..

Country Garden misses bond payments as China property fears flare

Country Garden said on Tuesday it has not paid two dollar bond coupons due on Aug. 6 totalling $22.5 million, confirming market fears that the biggest privately owned developer in China is slipping into repayment troubles.

www.reuters.com

 

[letsrock]

what is "shadow bank industry" ?

 

[ProudThamizhan]

It is connected perhaps, as evidently Zhongzi is as usual a secretive op - but this Yahoo news clarifies and yes the big Zonghsi is in trouble.

The turmoil at Zhongzhi Enterprise Group Co., a secretive financial conglomerate that manages about 1 trillion yuan ($138 billion), surged to the fore after several of its corporate clients disclosed overdue payments by a trust unit. In a sign that Chinese authorities are worried about potential contagion, the banking regulator has set up a task force to examine risks at Zhongzhi, according to people familiar with the matter.

While little known outside China, Zhongzhi is among the biggest players in the country’s $2.9 trillion trust industry, which combines characteristics of commercial and investment banking, private equity and wealth management. Firms in the sector pool savings from wealthy households and corporate clients to offer loans and invest in real estate, stocks, bonds and commodities.

China Finance Giant’s Missed Payments Alarm Regulators, Markets

(Bloomberg) -- One of China’s largest private wealth managers has triggered fresh anxiety about the health of the country’s shadow banking industry after missing payments on multiple high-yield investment products.Most Read from BloombergRuble Plunges Past 100 Per Dollar as Infighting Goes...

finance.yahoo.com

 

[Menthol]

what is "shadow bank industry" ?

Loan-Shark!

 

[Skull and Bones]

Missing payment is a virtue of strong economy, they were so busy in business that they forgot their payment date.

 

[CIA Mole]

here look at picture of ughur train station instead

 

[beijingwalker]

Xi's rule, a miracle in the human history,

 

[CIA Mole]

oh look another ughur train station

 

[beijingwalker]

View attachment 946100
here look at picture of ughur train station instead

Urumqi has several train stations, here is a big one

 

[ProudThamizhan]

Missing payment is a virtue of strong economy, they were so busy in business that they forgot their payment date.

that makes sense but the usual chinese cybermice haven't shown up to say that yet. perhaps awaiting instructions . or they're busy checking if they

Xi's rule, a miracle in the human history,

View attachment 946104

rest of the world works at removing poverty.
CCP reduces poverty by killing of the poor - the charts look even better that way

 

[CIA Mole]

that makes sense but the usual chinese cybermice haven't shown up to say that yet. perhaps awaiting instructions . or they're busy checking if they

rest of the world works at removing poverty.
CCP reduces poverty by killing of the poor - the charts look even better that way

no he confuses causation with correlation

china poverty reduction started with Deng

china unsustainable low birth rate only started with terror feudal xi

 

[beijingwalker]

rest of the world works at removing poverty.
CCP reduces poverty by killing of the poor - the charts look even better that way

Like which rest of the world? You stupid troll.