CHINA’S LARGEST PRIVATE NBFC ZHONGZHI FAILS LEADING TO CRISIS IN FINANCIAL SECTOR
PRESIDENT XI JINPING INTERVES TO BAIL OUT THE COMPANY TO PREVENT ITS SPREAD
2023-11-28 12:12
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China’s is staring in the face of a possible financial sector crisis, with its largest privately owned non-banking financial company unable to meet its obligations. Zhongzhi financial company, having widespread exposure to China’s real estate sector, has failed to honour its obligations to its investors and defaulted.