Mao Amin News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A liquidity crisis at one of China's top asset managers Zhongzhi Enterprise Group has fuelled worries that the country's deepening property sector crisis is spilling over into its $57 trillion financial industry, even as the economy is weakening. The group will conduct a debt restructuring, investors sources told Reuters after being briefed by management, a video seen by Reuters showed, after a trust firm controlled by the group missed payments on dozens of investment products. Zhongzhi's trouble has raised worries of a contagion risk to the financial sector if other trust firms default on repayment obligations in the $3-trillion shadow banking industry, which traditionally has had high exposure to the property industry, which is in a deepening slump.

Xie zhichunSumeet chatterjeeMao aminXie zhikunKim coghillZiyi tangZhongrong internationalZhongzhi enterprise groupZhongrong international trustRyan wooShanghai newsroomLiquidity crisisAsset managementShadow bankingInvestment products