Chinese shadow bank says it has ‘huge’ debt and can’t pay its bills
By Diksha Madhok and Juliana Liu, CNN New Delhi/Hong Kong (CNN) — A major wealth management company in China has told investors it can’t pay all its bills, reigniting fears that the country’s long-running real estate slump may be spilling over into the $3 trillion shadow banking sector. Zhongzhi Enterprise Group (ZEG) wrote to investors
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