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Chinese trust companies on the brink: Looming bankruptcies "bigger than Evergrande"

China's 3 trillion dollar trust industry is on the brink of collapse. Sources say a wave of bankruptcies is likely in the coming months. ....

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CX Daily: Why Medical Students in China Are Faking Their Way to a Doctor's License

CX Daily: Why Medical Students in China Are Faking Their Way to a Doctor’s License - China will provide $5.9 million in emergency aid to Turkey. PayPal’s China unit gets ready to juice up its business ....

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Regulator Warns China's Trust Firms That Crackdown Isn't Over

Regulator Warns China’s Trust Firms That Crackdown Isn’t Over
The CBIRC on Sunday outlined a target of cutting the total outstanding value of trust-financing products by another 1 trillion yuan this year. Photo: IC Photo
China’s banking and insurance regulator has pledged to continue its crackdown on the trust industry this year, with a particular focus on curbing trust financing and channel lending, amid concerns about mounting risks in the sector.
At a meeting on Sunday, the China Banking and Insurance Regulatory Commission (CBIRC) outlined a target of cutting the total outstanding value of trust-financing products by another 1 trillion yuan ($155 billion) this year and effectively shutting the business down completely over the next five years, several trust firm executives who attended the annual regulatory work conference told Caixin. ....

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