08/15/2023 Bloomberg: Zhongzhi Zhongrong International Trust Co. missed payments on dozens of products, and has no immediate plan to make clients whole, indicating that troubles at the Chinese shadow bank are deeper than previously known. It has resulted in a lot of concern about the state of this company, and whether they will be able to pay the debts that they have outstanding. It’s likely that there will be more of this in the future because there was so much lending by trust in China to property.
