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China: Corporate debt crisis spreads/Zhongwang: suspended in stock market & fraud conviction in U.S.

China Zhongwang Holdings Limited is known as the “King of Aluminum in Asia.” On October 15th, China Zhongwang suddenly announced its subsidiaries “had suffered significant losses and operational difficulties. Despite efforts from various parties, they are unable to solve the current problems on their own.” The two subsidiaries mentioned are the primary companies of the corporate business.
The debt crisis of Chinese companies is spreading, which can bring about a serious financial crisis in China. For example, China’s big business conglomerate, Baoneng Group, has experienced increasing strain on its capital chain. Currently, it has defaulted on at least nine items of trusts, involving a total of about $3.1 billion US dollars. Moreover, it has seen a rising risk factor for its subsidiaries, with frequent news about equity pledges, property freezes, and legal proceedings.

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Written by China Insights

Comments

  1. Check out the other videos from China Insights. They are all anti China. This is what propaganda looks like. How about mentioning the 800 million Chinese brought out of poverty. The US state department recently budgeted 350 million dollars for anti china propaganda.

  2. CCP /XI Greed at its Finest and they want to be world Leaders…….of what IDIOCY ??? The USA & Other Free Nations Are NOT Perfect but atleast we have Checks and Balance in our Nations even when Some Abuse it…….the FREE PEOPLE of Each Nation Can UP-RISE unlike the Poor Chinese People if they do they go Missing or DEAD!!! ⚖🙏✝🇺🇸🤠 Cow}:-o)

  3. Because debt for dumping loans dried up…….Awwwwwww………have to charge more than products cost to make. Welcome to reality. US stock market is going to roar to 50,000 if this becomes a trend.

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