Zhongrong International Trust’s missed payments of US$19 million to three firms spark fears that China’s slow economy may trigger a liquidity crisis beyond the property sector.
(Bloomberg) One of China’s largest private wealth managers is triggering fresh anxiety about the health of the country’s shadow banking industry after missing payments on multiple high-yield products.Most Read from BloombergAmerica’s Fastest Growing City Is Embracing ‘Yellowstone’ ManiaOutsider Milei Upends Argentina’s Election With Primary WinGoldman Pencils In First Fed Rate Cut for Second Quarter of 2024The Fed Is Playing a Waiting Game to Try to Avoid a RecessionUS Steel Starts Review as
Credit rating agency Fitch Ratings has downgraded Ghana s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to restricted default (RD) from CCC due