Chinese Wealth Giant Crumbles: ZEG's Insolvency Shakes Shadow Banking
BREAKING
A leading Chinese wealth management company, Zhongzhi Enterprise Group (ZEG), has declared itself "severely insolvent," sending shockwaves through the country's financial sector and raising concerns about the stability of the $3 trillion shadow banking industry.
The Ripple Effect of Real Estate Slump
ZEG's announcement comes amidst China's ongoing real estate crisis, signaling potential spillover effects into the broader financial market. The Beijing-based conglomerate, with significant investments in the property sector, disclosed in a letter to investors that its total liabilities could reach 460 billion yuan (about $65 billion), starkly outweighing its assets valued at 200 billion yuan.
According to reports by lanjinger.com, a Chinese state-owned news outlet, and international agencies such as Reuters, ZEG's financial distress highlights the challenges facing China's shadow banking system. However, the contents of the letter and the full extent of ZEG's financial woes remain unverified, as the company has not responded to requests for comment.
Wasn’t China also involved in Italy’s collapse? I remember the whole “hug a Chinese” Covid stunt.
Whatever the hell comes out of China, they have no problems sharing it with the rest of the world. It almost sounds like they are gearing up for a repeat. The CCP is trying to coverup whatever is taking place in Northern China. The timing of this, is troubling. The upcoming New Year holiday travel season sends Chinese all over the country. Many foreign living Chinese are getting ready to return to China for the holidays - the same thing that happened the last time. Then those foreign Chinese residents return to the countries where they are living. The visa exemption that begins in December is for France, Germany, Italy, the Netherlands, Spain and Malaysia. Even their own citizens are questioning what the CCP is up to. This can set the stage for another scamdemic. So I am following it closely.
Yes, I remember the whole CCP shill hug a Chinese stunt - especially in Commiefornia.
Italy has its own economic issues and I question the hype that came out of there over Covid. Whatever it was, mostly affected the elderly. Ground zero in Northern Italy, like Wuhan, had turned on 5G. Notice that Italy is on the list for visa exemptions.
I smell another scamdemic possibly on the horizon. The WHO is already involved. Mail-in ballots again? Remember, the WHO's changes to the International Health Regulations are getting ready to be approved in May unless there is objection. Plenty of distractions on the field to keep people from noticing.