Five Things to Know About Chinese Trust Firms’ Scramble to Offload Risky Assets
The industry, long a source of shadowy funding for property developers, faces a reckoning now that the real estate industry is in crisis
It was a tough year for China’s trust firms in 2022, as many reported shrinking revenue or profits due to losses on their immense real estate investments, while regulators tightened scrutiny over the 22 trillion yuan ($3.2 trillion) trust industry.
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