Chinese Bank Declares Bankruptcy. CAREFUL. Beijing court accepts shadow bank Zhongzhi's bankruptcy application.

obliging Liger_8165 : Any link or source?

Thelord : Start of week going to dump very hard again

Sonic The HEDGED OP obliging Liger_8165 : It's all over the financial newspapers

obliging Liger_8165 Sonic The HEDGED OP : Thanks for the info. Likely to hit new low.

SpyderCall Sonic The HEDGED OP : What makes it a "shadow" bank?

SpyderCall Sonic The HEDGED OP : They don't provide transparency in their financial records or something???

ZnWC SpyderCall : Shadow banks like zhongzi are loosely regulated firms that pool household savings to make loans and invest in real estate, stocks, bonds and commodities. China's trust industry is a major alternative funding source for vulnerable borrowers unable to obtain regular bank loans, such as real estate developers and local government financing vehicles.

You can read here:
Troubled China shadow bank Zhongzhi files for bankruptcy - Business News

SpyderCall ZnWC : Thanks I appreciate that