Posted by foongsh > 2024-01-07 17:55 | Report Abuse

Chinese shadow bank Zhongzhi files for bankrupcty

Beijing — Chinese wealth manager Zhongzhi Enterprise Group has filed for bankruptcy liquidation after failing to repay debt, as the firm grapples with a deepening property market downturn.

Zhongzhi applied for bankruptcy on the grounds it could not pay its due debts and its assets were insufficient to pay all its debts, a court in China’s capital Beijing said in a statement on Friday.

Posted by qqq47660 > 2024-01-07 18:40 | Report Abuse

In terms of depth, breath, technology prowess, response, ability to solve problems, china national champions byd , Huawei puts america competition to shame.

Posted by prudentinvestor > 2024-01-07 20:22 | Report Abuse

"Chinese shadow bank Zhongzhi files for bankrupcty"
Why does this surprise you so much? Didn't the collapse of Silico Valley Bank, Signature Bank and First Republic Bank last year catch your attention? During the world financial crisis of 2007/08, Citibank's share price plummeted by over 95% in just a few days. Without US government rescue, Citibank would have long gone bust.

Posted by qqq47660 > 2024-01-07 21:08 | Report Abuse

Shadow bank? By definition shadow bank has no role to play as China develops

Posted by qqq47660 > 2024-01-07 21:11 | Report Abuse

Huawei business model for 30 years is based on supply chain. A sudden cut off in supply chain will kill any company not as strong as Huawei

Posted by IDQWE001 > 2024-01-07 21:17 | Report Abuse

Posted by foongsh > 3 hours ago | Report Abuse

Chinese shadow bank Zhongzhi files for bankrupcty

Beijing — Chinese wealth manager Zhongzhi Enterprise Group has filed for bankruptcy liquidation after failing to repay debt, as the firm grapples with a deepening property market downturn.

Silico Valley Bank, Signature Bank and First Republic Bank were saved by big banks most important depositors able to get back their money. Not like Zhongzhi's investors lost their pants.

Posted by foongsh > 2024-01-07 21:19 | Report Abuse

The court said it accepted Zhongzhi’s bankruptcy liquidation application in accordance with China’s enterprise bankruptcy law.

The worsening woes at Zhongzhi, a major player in China’s $3 trillion shadow banking sector — roughly the size of the French economy — add to worries that the country’s property debt crisis is spilling over into the broader financial sector.

Posted by prudentinvestor > 2024-01-08 15:43 | Report Abuse

"Silico Valley Bank, Signature Bank and First Republic Bank were saved by big banks most important depositors able to get back their money. Not like Zhongzhi's investors lost their pants."
Total losses by the Chinese hardly amounted to 1% of losses suffered by the Americans during the subprime mortgage crisis of 2007/08.

Posted by qqq47660 > 2024-01-08 16:56 | Report Abuse

Under ground bank go under is to be expected and a good thing. It's call moral hazards. People should be careful with their money

Posted by qqq47660 > 2024-01-08 16:59 | Report Abuse

The government should not be expected to under write people's foolish decisions.

Posted by qqq47660 > 2024-01-08 19:03 | Report Abuse

Total losses by the Chinese hardly amounted to 1% of losses suffered by the Americans during the subprime mortgage crisis of 2007/08.
==========

foreign critics have no understanding of the size of China economy or just pretend not to know.

geo political tensions between USA ( and maybe G7 too) and China is expected to last for 10 years but by the end of it, China will be so far ahead of US , its scary.

in another few years, China will have 70000 km of high speed rail from 40,000 currently. And technology in China will be so advanced , it will be scary. no compare.

just think of EV, autonomous driving, 5G , 6G, AI, robotics, manufacturing prowess, green technology, transportation and logistics of the future and applications in health, education, services, agriculture, manufacturing. infrastructure

the world will be split into two.....those benefiting from China technology namely Global south and BRICS and those close to USA and declining.

Posted by qqq47660 > 2024-01-08 19:11 | Report Abuse

G7 world will be more protectionist, there is no getting around it. And the world will be split into 2 as the G7 world will find in impossible to compete with China and China moves up the value chain . Of course G7 countries prefers China to remain poor and just manufacture toys and shoes for them....but as China moves up the value chain, the G7 countries eat what?

Posted by qqq47660 > 2024-01-08 19:14 | Report Abuse

weaponing human rights issues and democracy will not get G7countries any where because they are based on lies.

Posted by qqq47660 > 2024-01-08 20:02 | Report Abuse

Official statistics shows China Gdp at only 18 trillion USD. But comparing prices of goods and services in China Vs USA, the Gdp of China Vs USA is at least double or treble that....not forgetting USA Gdp is inflated by wars and weapons and printing of money

Posted by IDQWE001 > 2024-01-08 21:02 | Report Abuse

“The worsening woes at Zhongzhi, a major player in China’s $3 trillion shadow banking sector”

World human history lost in a single private company. Changes not seen for hundreds of years, only made in CCP worse than 3rd world countries. Lol.

Posted by foongsh > 2024-01-08 21:04 | Report Abuse

The company, which has sizable exposure to China’s real estate sector, apologized to its investors in a letter in November that said it was heavily insolvent with up to $64 billion in liabilities.

Police in Beijing, where the firm is based, later launched an investigation into suspected crimes committed by Zhongzhi and said it was looking into “many” suspects involved with the company.

Posted by prudentinvestor > 2024-01-08 21:30 | Report Abuse

"World human history lost in a single private company. Changes not seen for hundreds of years, only made in CCP worse than 3rd world countries. Lol."
Did you know Citibank shares plummeted by over 95% during the 2007/08 subprime crisis in just a few days. I thought this could only happen in the stock markets of third world countries. And mind you, there were lots and lots of counters which lost over 90% of their market capitalization within days during that period.

Posted by foongsh > 2024-01-08 22:41 | Report Abuse

China’s highly indebted property sector has been reeling from a liquidity crunch since 2020. Defaults by developers since late 2021 have impeded economic growth and rattled global markets。

Shadow banking-linked wealth managers in China typically operate outside many of the rules governing commercial banks and mainly channel the proceeds of wealth products sold to retail investors to real estate developers and other sectors.

Posted by qqq47660 > 2024-01-09 01:12 | Report Abuse

so what is your problem that shadow bank is declared bankrupt? u mean shadow bank should not be declared bankrupt?

Posted by qqq47660 > 2024-01-09 01:15 | Report Abuse

critics of China very funny people. Turn right also wrong, turn left also wrong. Every thing also turn into criticism of China.

But China will be ok , in fact China has a bright future and more than ok.

Posted by foongsh > 2024-01-09 08:56 | Report Abuse

Signs of Zhongzhi’s problems emerged in July when Zhongrong International Trust Co, a leading trust company controlled by Zhongzhi, missed payments on dozens of investment products.

In August, Zhongzhi told investors it faced a liquidity crisis and would conduct a debt restructuring. The management said the plan is for “self-rescue” through restructuring, with a focus on debt collection and asset liquidation, but bankruptcy is also an option.

CCP supporters were very angry and frustrated. Those who invested against the real situation would lost their pants. Lol.

Posted by qqq47660 > 2024-01-09 14:01 | Report Abuse

trees vs forest.

critics see the trees and the noises., but not the growing and beautiful forest.

Posted by foongsh > 2024-01-09 19:46 | Report Abuse

The latest development would help the group to speed up asset liquidation, said Ying Yue, a lawyer at Leaqual Law Firm.

Yet the court process is expected to be slow, and investors will likely incur hefty discount in the repayment plan and may only be able to recover 30% of their money, based on precedent cases, said Ying.

Posted by IDQWE001 > 2024-01-09 19:50 | Report Abuse

"recover 30% of their money". 70% of their money went to CCP's red army 2nd and 3rd generations for their girl friends and migration to US, left their supporters continue to hate westerns and US. Lol

Posted by qqq47660 > 2024-01-10 12:16 | Report Abuse

DPP propaganda is for id.iots

Posted by angrycat > 2024-01-10 13:53 | Report Abuse

Anti-China propaganda is either a business if you're in it for the money, or
It's a mental disorder if you genuinely believe it.

Posted by IDQWE001 > 2024-01-10 15:32 | Report Abuse

Most Asian stocks retreated on Wednesday as investors remained on edge over U.S. inflation and early interest rate cuts, while Japan’s Nikkei 225 jumped to a 34-year high amid growing expectations of a delay in the Bank of Japan’s plans to tighten policy.

which i.diot keep on telling Japan is collapsing. Lol

Posted by qqq47660 > 2024-01-10 15:36 | Report Abuse

Posted by angrycat > 1 hour ago | Report Abuse

Anti-China propaganda is either a business if you're in it for the money, or
It's a mental disorder if you genuinely believe it.

=======

for serpenza and China uncensored, it a business, for DPP is power, for western mainstream media its business plus geo politics and ideology

for idq/ foong is It's a mental disorder and for i.diots.

Posted by qqq47660 > 2024-01-10 21:02 | Report Abuse

And for HK youths, I think most have woke up. So simple, just wake up realise they have been so st.upid so brain washed before.

Posted by qqq47660 > 2024-01-10 21:07 | Report Abuse

HK and China very interesting càse.

In 1998, people fear mainland Chinese swim over the channel. This Christmas, record number of HK people visit Shenzhen to see the China miracle for themselves

Posted by IDQWE001 > 2024-01-11 10:08 | Report Abuse

Wall Street’s benchmark S&P 500, which remains within a whisker of a record high set in January 2022.

Those i.diots keep on telling US dollar and stocks collapsing, end up looking at the mirror. Collapsing of Shanghai and HK stocks. Lol.

Posted by IDQWE001 > 2024-01-11 10:11 | Report Abuse

China Facing 280 Million Jobless by 2024? Youth in Terror, Unemployment Rate Feared Over 20%

https://youtu.be/R83aiucYvek?si=obBFNrxXqtZsXtl6

Posted by prudentinvestor > 2024-01-11 11:05 | Report Abuse

China's total labour force is less than 800 million. How could China be facing 280 million jobless? Check the facts first before foolishly reposting. Each year over 100,000 Americans die of drug overdose. Please look after yourself.

Posted by qqq47660 > 2024-01-11 11:21 | Report Abuse

In the world of ai, automation, robots, China demography is in the right direction. No need to have so many unemployed problems.

Posted by qqq47660 > 2024-01-11 11:27 | Report Abuse

China has a lot of ren Zheng FEI.
A great Confucian man. Hero of China.and that is what China needs.

Posted by qqq47660 > 2024-01-11 11:31 | Report Abuse

Stock market is important but stock market is not every thing.
China with Confucian values will shine as all Confucian countries will shine.
Hard work, thrift, humility, learning, harmonious. , moral values and rule by morals. These will shine

Posted by Jefftan123 > 2024-01-11 13:16 | Report Abuse

Nikkei 225 extends rally, at 34-year high
Japan’s Nikkei 225 remained an outperformer among its Asian peers, rising 2% on Thursday to a fresh 34-year high above 35,000 points. The index was boosted by broad-based gain

Posted by Jefftan123 > 2024-01-11 13:17 | Report Abuse

HK index back to 1997. 🤣🤣

Posted by qqq47660 > 2024-01-11 14:31 | Report Abuse

once a while, stock market give u once a life time opportunity.

Posted by IDQWE001 > 2024-01-11 20:10 | Report Abuse

Posted by Jefftan123 > 6 hours ago | Report Abuse

HK index back to 1997. 🤣🤣

stock market give those i.diots many times opportunity losing their pants.

Posted by qqq47660 > 2024-01-12 11:43 | Report Abuse

Your America masters don't impress me. America is under the control of wall street and wall street is under the control of fear and greed.

I prefer the China model of rule by morals and live by Confucian values.

China is more sustainable and better long term outlook.

Posted by qqq47660 > 2024-01-12 11:45 | Report Abuse

In finance and marketing, America is king. BlackRock and hedge funds control the stock market.

But in real economy China is doing the right things

Posted by qqq47660 > 2024-01-12 11:46 | Report Abuse

In the long run the real economy decides

Posted by Jefftan123 > 2024-01-12 13:48 | Report Abuse

Japanese stocks surge past 34-year highs, set for stellar week
Japan’s Nikkei 225 was the best performer in Asia this week, rising 1.2% on Friday to a new 34-year high at nearly 35,500 points. With strong and solid economy support.

Posted by IDQWE001 > 2024-01-12 15:12 | Report Abuse

China REITs plumb record lows as economic gloom lingers

SHANGHAI/SINGAPORE: China's real estate investment products are tumbling, extending last year's slump as investors lose hope for a recovery in the economy and property assets such as industrial parks and logistics hubs.

Chinese real estate investment trusts (REITs), which issue shares to investors against a portfolio of real estate holdings, have hit successive lows in the first few days of 2024.

Posted by qqq47660 > 2024-01-12 18:11 | Report Abuse

Japan? It's just stock market phenomenon but good luck to them. The only thing going on for Japan is the cheap yen

Posted by qqq47660 > 2024-01-12 18:12 | Report Abuse

The amount of fraud going on in Japan corporations is scary. Latest being daihatsu.

Posted by qqq47660 > 2024-01-12 18:15 | Report Abuse

Germany and Japan quickly rebounded after ww2, but now both Germany and Japan are stuck. And the new promising ones are China and global south.

Posted by qqq47660 > 2024-01-12 18:17 | Report Abuse

What I like most about China is rule by morals, live by Confucian values. China will do well as long as there is no hot wars

Posted by IDQWE001 > 2024-01-12 18:38 | Report Abuse

After tumbling 28 per cent in 2023, the CSI REITs Index has dropped another 6.4 per cent this year through a rare, seven-day losing streak driven by one REITs manager's disclosure of cuts in warehouse rental prices and broader fears of falling yields.

The selloff reflects tumbling confidence in an economy where a deepening property crisis, weakening consumption and sputtering business activities have sapped demand for office buildings, warehouses and shopping malls.

It also complicates Beijing's efforts to lure investors into a nascent REIT market designed to channel badly needed cash to indebted local governments and property developers.