Sydney Morning Herald (August 10)
2022/ 08/ 12 by jd in Global News
“There are 68 trusts in China with about $4.3 trillion of assets – property loans, shares, bonds and commodities – under management, with property accounting for at least $500 billion of the total.” The National Audit Office has been instructed “to inspect the books of the country’s biggest trust firms.” This shows “the increasing concern of the Chinese authorities that the implosion of their property development sector could ignite a wider financial crisis.”
Tags: $4.3 trillion, 68 trusts, Assets, Authorities, Bonds, China, Commodities, Concern, Implosion, Loans, National Audit Office, Property, Shares
