Chinese Bank Declares Bankruptcy. CAREFUL. Beijing court accepts shadow bank Zhongzhi's bankruptcy application.
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obliging Liger_8165 : Any link or source?
Thelord : Start of week going to dump very hard again
Sonic The HEDGEDOP obliging Liger_8165: It's all over the financial newspapers
obliging Liger_8165 Sonic The HEDGEDOP: Thanks for the info. Likely to hit new low.
SpyderCall Sonic The HEDGEDOP: What makes it a "shadow" bank?
SpyderCall Sonic The HEDGEDOP: They don't provide transparency in their financial records or something???
ZnWC SpyderCall: Shadow banks like zhongzi are loosely regulated firms that pool household savings to make loans and invest in real estate, stocks, bonds and commodities. China's trust industry is a major alternative funding source for vulnerable borrowers unable to obtain regular bank loans, such as real estate developers and local government financing vehicles.
You can read here:
Troubled China shadow bank Zhongzhi files for bankruptcy - Business News
SpyderCall ZnWC: Thanks
I appreciate that