China Insider with David Zhang
@chinainsiderwithdavidzhang·1.4M subscribers·1.8K videos
China's Blackrock— A 3 Trillion Dollar Shadow Banking Industry Is Failing
Posted
August 19, 2023
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30,326
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1,858
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August 19, 2023
30,326
1,858
165
6.67%
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14:46Now PlayingChina's trust industry is like the Blackrock or Vanguard of China. It is called the shadow banking industry. It runs a 3 trillion USD business catering to the ultra-rich. Now, one of the biggest firms, Zhongrong failed to make payments.
As it is tied to real estate, we will also discuss how Evergrande, filing for Chapter 15 bankruptcy in the US fits into all this.
#evergrande #bankruptcy #china
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