Next payment default fuels concerns abou • Table.Briefings

Evergrande residential complex in Nanjing: The property developer’s bankruptcy has shaken China’s self-perception of its economic strength to its very core.

Concerns are mounting about the performance of medium-sized and smaller institutions: Another financial conglomerate that provided the Chinese property sector with billions is insolvent. China’s financial regulator now allows banks to issue unsecured short-term loans.

The news about the insolvency of Chinese financial conglomerate Zhongzhi probably came as a shock to many customers. Since Thursday, the wealth management company has officially been unable to repay large parts of its entrusted money.

Next payment default fuels concerns about China’s financial system

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