Zhongzhi Enterprise Declares Bankruptcy
Posted on 01/05/2024
Zhongzhi Enterprise has declared bankruptcy after months of speculation. The “shadow bank” was unable to make good on over US$ 60 billion worth of debt. Since its assets are primarily equity-based or in long-term debt, Zhongzhi cannot raise cash quickly. Property prices in China have been falling, leading to the worst decline in 8 years…
