Beijing police investigate Chinese wealth manager's suspected crimes

Reuters

Beijing police are investigating suspected crimes by Zhongzhi Enterprise Group, a Chinese wealth manager, with up to $64 billion in liabilities. The firm has significant exposure to China's real estate sector and operates in the $3 trillion shadow banking sector. Zhongzhi apologized to investors for its insolvency, and Beijing authorities are urging investors to report losses. Zhongzhi did not respond to requests for comment. (Words: 65)


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