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liquidity crisis: China's troubled $137 billion shadow bank plans debt restructuring, taps KPMG

Zhongzhi Enterprise Group Co. hired KPMG in late July to review its balance sheet amid a worsening liquidity crunch, said the people, asking not to be identified as the matter is private. The Beijing-based company plans to restructure debt and sell assets after the review in order to repay investors, the people said. The company manages more than 1 trillion yuan ($137 billion) of assets. ....

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China's Great Wall of Debt

An inside look at how and why the foundations upon which China has built the world’s second largest economy have started to crumble. ....

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