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Another crisis in sight? Chinese wealth managers miss payments to HNW clients

Two leading Chinese wealth managers are overdue in making disbursements on wealth products to their clients, leading to fears that further defaults could trigger another liquidity crisis in the industry in mainland China. Wealth management companies with a combined AUM of RMB 366.15 billion (US$51 billion), according to recent estimates, operating under Zhongzhi Enterprise Group (中植集团, Zhongzhi), are overdue in…

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