As developer China Evergrande Group lurched from one crisis to another over the past two years, Beijing avoided directly intervening to rescue what was not too long ago considered one of the country's "too big to fail" enterprises.
China's government has invested billions of dollars across the world to wage a "propaganda, disinformation, and censorship" campaign "to exert control over the narratives in the global information space," the State Department said in a new report.
The involvement of Chinese state-owned financial firms, Citic Trust and CCB Trust, in Zhongrong International Trust Co s operations and management is seen as a measure to diffuse risk, but it does little to alleviate concerns about missed payments. Zhongrong, a troubled shadow bank with real estate exposure, has missed payments on trust products, causing market turmoil and raising fears