八百里急报，Tiongkok Shadow Bank owe money dun pay money liao.... How hah Ah Tiu?

[k1976]

Chinese Shadow Bank Misses Dozens of Payments as Fallout Spreads​

• Products with missed payments grow to dozens, official says
• Company has no repayment schedule, seeks investor patience

Gift this article
By Bloomberg News
August 16, 2023 at 9:55 AM GMT+8

Zhongrong International Trust Co. missed payments on dozens of products and has no immediate plan to make clients whole, indicating troubles at the embattled Chinese shadow bank are deeper than previously known.

Wang Qiang, board secretary of the firm partly owned by financial giant Zhongzhi Enterprise Group Co., told investors in a meeting earlier this week that the firm missed payments on a batch of products on Aug. 8, adding to delays on at least 10 others since late July, according people familiar with the matter. At least 30 products are now overdue and Zhongrong also halted redemptions on some short-term instruments, one of the

 

[k1976]

Markets

China Finance Giant’s Missed Payments Alarm Regulators, Markets​

• Several firms saw overdue payments on Zhongzhi-linked products
• Property crisis has spread to $2.9 trillion trust industry

Gift this article
By Bloomberg News
August 14, 2023 at 11:06 AM GMT+8
Updated on
August 14, 2023 at 5:05 PM GMT+8

One of China’s largest private wealth managers has triggered fresh anxiety about the health of the country’s shadow banking industry after missing payments on multiple high-yield investment products.

The turmoil at Zhongzhi Enterprise Group Co., a secretive financial conglomerate that manages about 1 trillion yuan ($138 billion), surged to the fore after several of its corporate clients disclosed overdue payments by a trust unit.

In a sign that Chinese authorities are worried about potential contagion, the banking regulator has set up a task force to examine risks at Zhongzhi, according to people familiar with the matter.

 

[Patriotmissile]

完了完了完了bbq了

 

[k1976]

https://www.wsj.com/articles/chinas-shadow-banks-could-be-another-property-casualty-3ea302ed

Three companies haven’t received payments from investment products managed by Zhongrong International Trust, according to exchange filings in recent days.

Over the weekend, Shanghai-listed Nacity Property Service disclosed that it hasn’t received principal and interest due from a 30 million yuan ($4.2 million) Zhongrong trust product which came due last week.

Materials company KBC Corp says it is missing 60 million yuan due from two maturing Zhongrong trust products. And tool manufacturer Xianheng International hasn’t received payments due from one Zhongrong product and two other products from a separate trust firm.

 

[laksaboy]

What is a shadow bank? Wayang kulit bank?

By the way, I genuinely fear for Forest City... better visit it and take some photos/videos, while you still have the chance.

 

[k1976]

Trust companies, a venerable part of China’s “shadow banking” system of nonbank lenders, make investments on behalf of their clients.

In addition to managing assets entrusted to them, many also sell high-yield investment products directly to companies and individuals.

They then invest the proceeds in a variety of assets, or lend directly to companies or property projects—often ones that cannot secure regular bank or bond market financing.

The country’s trust industry had around $2.9 trillion of assets as of March, according to the China Trustee Association. About 72% are held by these so-called financing trusts which peddle investment products to wealthy investors and companies.

Unsurprisingly, the worsening crisis in China’s housing market has already dealt a blow to the trust industry. In mid-2019, around 15% of financing trust assets were invested in real estate.

But defaults on trust investment products—especially those linked to real estate—picked up over the past couple of years, and many financing trusts scaled back their investments in property. Such outstanding investment in real estate has dropped 62% since 2019, and accounted for only 7.4% of total financing trust assets as of March. But the absolute outstanding amount—around $156 billion—is still rather sizable.

 

[TanSong]

What is the meaning of

八百里 - 800 miles ?​

 

[k1976]

What is a shadow bank? Wayang kulit bank?

By the way, I genuinely fear for Forest City... better visit it and take some photos/videos, while you still have the chance.

Shadow Bank like to play Tiongkok old trick known as 灯下黑

 

[k1976]

What is the meaning of

八百里 - 800 miles ?​

Meaning some urgent news that somebody need to ride kok kok ma for 800km in ancient Chinese term non stop to leeepok... Well depend on how many horses can switch between 驿站

 

[TanSong]

Many Chinese educated uncles 华校生 叔叔 at Koufu told me that Chinese communist party is very powerful and for sure China is very stable.

中共土匪 很有实力, 很强大，很壮。 中国一定强过美国！

 

[k1976]

What is a shadow bank? Wayang kulit bank?

By the way, I genuinely fear for Forest City... better visit it and take some photos/videos, while you still have the chance.

https://www.investopedia.com/terms/s/shadow-banking-system.asp#:~:text=Shadow banks, often known as,and even large investment banks.

Let look for some professional recognized answer from a reliable site

 

[k1976]

What Is the Shadow Banking System?​

The shadow banking system describes financial intermediaries that participate in creating credit but are not subject to regulatory oversight.


Banks play a key role in the economy, underpinning the credit system by taking money from depositors and using those funds to make loans. Banks usually have to operate with plenty of scrutiny from financial regulators in their home countries and around the world. Shadow banks, often known as nonbank financial companies (NBFCs), can usually operate with little to no oversight from regulators.


Examples of shadow banks or financial intermediaries not subject to regulation include hedge funds, private equity funds, mortgage lenders, and even large investment banks. The shadow banking system can also refer to unregulated activities by regulated institutions, which include financial instruments like credit default swaps.

 

[k1976]

KEY TAKEAWAYS​

• The shadow banking system consists of lenders, brokers, and other credit intermediaries who fall outside the realm of traditional regulated banking.
• Shadow banking is generally unregulated and not subject to the same kinds of risk, liquidity, and capital restrictions as traditional banks are.
• The shadow banking system played a major role in the expansion of housing credit in the run-up to the 2008 financial crisis.
• Even so, shadow banking has grown in size and largely escaped government oversight since then, posing potential risks to the global financial system.

 

[k1976]

Many Chinese educated uncles 华校生 叔叔 at Koufu told me that Chinese communist party is very powerful and for sure China is very stable.

中共土匪 很有实力。 中国一定强！

Yes, at least they build a house for u to play and stay mah

Last time in 1940s, my ah gong invested in Nationalist issued China Gold Back Notes.. Lost until lao green shit

 

[k1976]

China 4 Big Banks are makaning at God Speed liao

 

[k1976]

https://www.businesstimes.com.sg/in...ators-increase-scrutiny-shadow-bank-exposures

Rest assured, we are in good hands De woh.. 160 Holey news sound alarm in mArch 2023 liao

 

[k1976]

Banking regulators increase scrutiny of 'shadow' bank exposures​

Published Fri, Mar 24, 2023 · 10:04 pm

Non-bank financial intermediaries (NBFI) – known as shadow banks – also include insurers and now make up nearly half the world’s financial assets, raising concerns among central banks about threats to overall financial stability.

PHOTO: PIXABAY

Banking​

GLOBAL banking regulators will step up scrutiny of how risks from systemically important shadow banks could destabilise lenders, a top banking regulator said on Friday (Mar 24) as central bankers home in on the huge funds industry.

Non-bank financial intermediaries (NBFI) – known as shadow banks – also include insurers and now make up nearly half the world’s financial assets, raising concerns among central banks about threats to overall financial stability.

Other examples of shadow banks or financial intermediaries include hedge funds, private equity funds, mortgage lenders, and even large investment banks. The shadow banking system can also refer to unregulated activities by regulated institutions, which include financial instruments like credit default swaps.

 

[k1976]

Non-banks are regulated by securities regulators, who have rejected past attempts by central banks to impose bank-like rules on the sector

Global banking and securities regulators are focusing on improving the resilience of the NBFI sector to market shocks, with proposals for open-ended funds expected in coming weeks after money market funds were addressed.

“While the focus of the Committee is on the global banking system, the growth in NBFI is of importance, given the interconnections between banks and NBFIs,” Pablo Hernández de Cos, chair of the global Basel Committee, which writes bank capital rules that are applied across the world.

 

[k1976]

It should be an open question whether more needs to be done to shield banks from non-bank risk, such as through macroprudential policy, which typically refers to measures such as a sector-wide capital buffer to cover a specific risk.

“We also plan to develop guidance with regard to NBFI risk management over the course of this year,” de Cos, who is also Bank of Spain governor, said in a speech.
“While great progress has been made in shoring up banks’ resilience with regard to NBFI entities, the question is whether that is sufficient?“

To date, virtually every episode of NBFI distress has involved banks, either as a direct counterpart or through indirect channels, de Cos added. REUTERS

 

[k1976]

Many Chinese educated uncles 华校生 叔叔 at Koufu told me that Chinese communist party is very powerful and for sure China is very stable.

中共土匪 很有实力, 很强大，很壮。 中国一定强过美国！

Provided no ownself fcukup ownself eg Soviet economic.induced self collapsed in 1990.. Else it is entirely possible in next supercycle