Norobiik @[email protected]Feb 18, 2024

The troubles at #SichuanTrust are a microcosm of the strain spreading through #China’s £2.3tn #TrustIndustry as an #EconomicDownturn, combined with tighter government regulation, risks torpedoing a major part of the #ShadowBanking industry that has filled the gaps left by traditional financial institutions. #PropertyMarketCrisis #zhongzhi

‘It’s legalised robbery’: anger grows at China’s struggling #ShadowBanks

https://www.theguardian.com/business/2024/feb/18/anger-grows-at-china-struggling-shadow-banks

Back toot: https://noc.social/@Norobiik/111720687963075543

‘It’s legalised robbery’: anger grows at China’s struggling shadow banks

Investors in one of the country’s ailing financial trusts have realised that the state may no longer always protect them

The Guardian