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China's Shadow-Banking Giant Files For Bankruptcy

submitted by dosvydanya_freedomz to WorldNews 4 monthsJan 5, 2024 13:25:52 ago (+0/-0)     (themessenger.com)

https://themessenger.com/business/zhongzhi-bankruptcy-china-economy-real-estate-crisis

One 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.


5 comments block

and they rip each other off as much as their factories shit on the consumer