Shadow Banking in China Begins to Hurt Investors

“To live out his retirement years, He Zhongkui was counting on steady income from an investment that promised interest payments five times higher than what he could earn in a Chinese bank.

Now He, a 62-year-old former municipal official in Wenzhou who rides a rusty bicycle, is cutting back on food and gasoline, having found himself one of a growing number of victims of China’s nebulous world of shadow banking. A “friend,” who he said had been paying him 2,400 yuan($379) a month after He gave him one-third of his 600,000-yuan life savings to invest in real estate, suddenly disappeared. So did the payments and principal.”

Full article

Previous Posts by CRONKITE

Comments are closed.


Major US US Futures Europe Asia Commodities 2yr Euro Yields 10yr Euro Yields Oil
  • DOW 15,567.70 0.14%
  • NASDAQ 3,579.27 -0.59%
  • S&P 500 1,692.39 -0.19%
  • VIX 12.66 3.01%
  • SPX 500 (CFD) 1,693.90 0.09%
  • DOW (CFD) 15,578.00 0.07%
  • NASDAQ 100 3,046.10 0.48%
  • EURUSD 1.319 -0.21%
  • UK 6,597.44 -0.39%
  • GERMANY 8,314.23 -0.20%
  • FRANCE 3,923.09 -0.43%
  • SPAIN 8,073.70 1.35%
  • H. KONG 21,931.00 0.07%
  • JAPAN 14,737.00 -0.28%
  • KOREA 1,912.08 0.42%
  • SHANGHAI 2,031.88 -0.59%
  • NAT GAS 4.16 -0.46%
  • GOLD 1,230.50 0.07%
  • SILVER 18.65 0.31%
  • COPPER 3.07 0.79%
  • FRANCE 2YR 0.19 -10.90%
  • GERMAN 2YR 0.14 34.65%
  • ITALIAN 2YR 2.18 27.59%
  • SPAIN 2YR 2.81 8.21%
  • FRANCE 10YR 2.21 1.10%
  • GERMAN 10YR 1.55 -0.32%
  • ITALIAN 10YR 4.37 1.30%
  • SPAIN 10YR 4.69 1.69%
  • WTI 107.17 -0.06%
  • BRENT 108.28 -0.13%
  • WTI/BRENT 1.11