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Beijing police are investigating suspected crimes committed by Zhongzhi Enterprise Group, a leading Chinese wealth manager, according to a social media post published by the Chaoyang Public Security Bureau on Saturday. Zhongzhi earlier this week told investors it is heavily insolvent with up to $64 billion in liabilities, threatening to reignite concerns that China's property debt crisis is spilling over into the broader financial sector. The firm has sizable exposure to China's real estate sector and is a major player in China's $3 trillion shadow banking sector - roughly the size of the French economy.

Casey hallMark potterChaoyang public security bureau onZhongzhi enterprise groupChaoyang public security bureauShaoyang public security bureauHealth managerBeijing police