China's Shadow-Banking Giant Files For Bankruptcy
(themessenger.com)https://themessenger.com/business/zhongzhi-bankruptcy-china-economy-real-estate-crisisOne of China's "secretive" shadow-banking giants filed for bankruptcy on Friday due to its inability to repay tens of billions of dollars in debt, a warning sign contagion from the downturn in the real estate industry continues to spread and raises questions if the property crisis in the world's second-largest economy will accelerate into the new year.
