China actions probe of $3trn trust industry - reports 

clock • 1 min read
China actions probe of $3trn trust industry - reports 

China is undertaking an audit probe of the $3trn trust industry, according to a report by Bloomberg News on 9 August. Trust firms have this year defaulted on around $8.6bn of investment products linked to property developers, which were sold to wealthy Chinese, according to industry data tracker Use Trust. For the past month, China's National Audit Office has been inspecting the books of at least 20 trust firms to gauge the risks they pose to financial stability, the report said, citing...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now

 

Already a International Investment member?

Login

More on Regulation