China Asks Two Financial Companies to Examine Books of Shadow Lender Zhongrong , Bloomberg Reports
Provided by
Dow Jones
--China has asked two of the country's biggest financial companies to check out the finances of Zhongrong International Trust, signaling a potential state-led rescue of the troubled shadow bank, Bloomberg reported, citing people familiar with the matter.
--Citic Trust, a unit of Citic Group, and CCB Trust, backed by China Construction Bank, will lead the inspection, Bloomberg cited the unidentified people as saying.
Full story: https://shorturl.at/hizCS
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
August 30, 2023 05:10 ET (09:10 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
After Earnings, Is Berkshire Hathaway Stock a Buy, a Sell, or Fairly Valued?
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
Berkshire Hathaway Earnings: Strong Insurance Results Continue to Lift Revenue and Profitability
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?
-
3 Dividend Stocks for May 2024
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom