China probes troubled wealth manager amid protracted property woes

By Stanley Yupu Li , senior reporter | 27 November 2023 | 4 minutes read
Beijing, China

China has launched a probe into one of the country’s largest wealth managers mired in insolvency trouble, highlighting the spillover effect of the struggling property industry into the wealth management sector. Police in Beijing have started a criminal investigation into the wealth management arm of Zhongzhi Enterprise Group, and have taken mandatory criminal measures against several suspects, including one surnamed…

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