The social media post from Beijing authorities said it was looking into "many" suspects involved with the company and encouraged investors to report their losses in order to help with the ongoing investigation.

"Investors are requested to actively cooperate with the police in investigating and collecting evidence and safeguard their rights and interests through legal channels," it read in part.

Zhongzhi apologised to its investors in a letter issued on Wednesday that said it had total liabilities of about 420 billion yuan ($58 billion) to 460 billion yuan ($64 billion), compared to estimated total assets of 200 billion yuan.

Beijing police launch investigation into troubled wealth manager Zhongzhi

Beijing police are investigating suspected crimes committed by Zhongzhi Enterprise Group, a leading Chinese wealth manager, according to a social media post published by the Chaoyang Public Security Bureau on Saturday.

Zhongzhi earlier this week told investors it is heavily insolvent with up to $64 billion in liabilities, threatening to reignite concerns that China's property debt crisis is spilling over into the broader financial sector.

The firm has sizable exposure to China's real estate sector and is a major player in China's $3 trillion shadow banking sector - roughly the size of the French economy.

What do we know about China’s new ‘mystery’ illness outbreak? | Al Jazeera Newsfeed

https://youtu.be/p8xtB2mb7TY?si=5Dl2XXF_b5F2nYSW

Undiagnosed Pneumonia outbreak in China, reports eerily similar to 2019 Covid outbreak | WION

https://youtu.be/NATPf4ZNnx8?si=TAybFlI24KeOmIxx

Epidemic Panic: Government Accused of Official Cover-up as Epidemic Outbreak Hits Dalian!

https://youtu.be/9SJMyAW_1kU?si=72Yeow8En8GfyhH4

China has seen an uptick in respiratory illness and clusters of undiagnosed pneumonia in children.

The World Health Organisation (WHO) has asked China for more detailed information about the increase in respiratory disease.

ReportReports from local media say children's hospitals are "overwhelmed" with sick children, but Chinese authorities say a surge in sickness is a result of known illnesses circulating more widely after COVID restrictions lifted. Here is what we know so far.s from local media say children's hospitals are "overwhelmed" with sick children, but Chinese authorities say a surge in sickness is a result of known illnesses circulating more widely after COVID restrictions lifted. Here is what we know so far.

Posted by foongsh > 1 hour ago | Report Abuse

1. Kong Dongmei, granddaughter of Mao Zedong
2. Deng Zhifanf, son of Deng Xiaoping
3. Deng Zhuodi, grandson of Deng Xiaoping
4. Zhuo Yue, granddaughter of Deng Xiaoping
5. Jiang Mianheng, eldest son of Jiang Zemin
6. Jiang Zhicheng, grandson of Jiang Zemin
7. Hu Haiqing, daugter of Hu Jintao
8. Xi Mingze, daugter of Xi Jinping
9. Yang Jiechi, senior member of CCP entire family
10. too many just ignore the rest

From the crisis of Zhongzhi and Evergrande could explain the above CCP 2nd & 3rd generation red guard army so rich and migrated to America.

CCP sucking the blood of local Chinese and made America great again. Lol.

Biden praised CCP and thanks for the contribution because those 2nd & 3rd red guard army were the great contributors to America.

All these CCP been proven proudly and successfully corrupted. Corruption is the nature of CCP and migrate to the Westerns.

America welcome CCP suck more local Chinese bloods and migrate there. Make America great again.

Dictator Xi's daugter got very rich when she was very young. Enjoy her US dollar in America.

Dictator Xi's sister and brother in Law very rich too. Both of them enjoy Canadian dollar in Canada.

Changes not seen for hundred years - entire real estate market bubble burst.

Changes not seen for hundred years - more and more developer founders go to jail.

Changes not seen for hundred years - homebuyers no home to stay with bad debts.

Changes not seen for hundred years - banking system loan to developers became non performance loan

Changes not seen for hundred years - ministers gone missing kena ISA worse than 3rd world coutries

Changes not seen for hundred years - Wealth management funds bad debts in human history record

Changes not seen for hundred years - CCP 2nd and 3rd generation red guard army made America great again.

Yes, many changes not seen for hundred years.

HSI : 17610

Taiwan Weighted: 17310

Very soon will take over. CCP tak boleh bagai.

Asian shares were dragged lower by losses in China on Friday and in the absence of guidance from Wall Street, which was closed for the Thanksgiving holiday, while the dollar stayed on the back foot and Treasury yields climbed a touch.

qqq did not give guidance to CCP stocks ? why still wait for Wall Street.

US Chip Ban Fallout Spreads as Alibaba Scraps Cloud Spinoff
- Tencent also sees impact on cloud operations from US AI curbs
- Washington’s new rules affecting China’s private enterprise

SMIC could not even manufacture advance computer game chips.

Foreign selling of Chinese shares has helped push the CSI 300 index of Shanghai- and Shenzhen-listed stocks down more than 11 per cent in dollar terms this year, compared with gains of 8 to 10 per cent for equity benchmarks in Japan, South Korea and India.

Posted by foongsh > 2 hours ago | Report Abuse

Posted by IDQWE001 > 1 hour ago | Report Abuse

1. Kong Dongmei, granddaughter of Mao Zedong
2. Deng Zhifanf, son of Deng Xiaoping
3. Deng Zhuodi, grandson of Deng Xiaoping
4. Zhuo Yue, granddaughter of Deng Xiaoping
5. Jiang Mianheng, eldest son of Jiang Zemin
6. Jiang Zhicheng, grandson of Jiang Zemin
7. Hu Haiqing, daugter of Hu Jintao
8. Xi Mingze, daugter of Xi Jinping
9. Yang Jiechi, senior member of CCP entire family
10. too many just ignore the rest

From the crisis of Zhongzhi and Evergrande could explain the above CCP 2nd & 3rd generation red guard army so rich and migrated to America.

CCP sucking the blood of local Chinese and made America great again. Lol.

Biden praised CCP and thanks for the contribution because those 2nd & 3rd red guard army were the great contributors to America.

CCP also dog of evil Putin surrender thousands of years ancient Chinese Far East Land to Russia.

CCP dogs of America, sucking the blood of local Chinese and made America great again

1. Kong Dongmei, granddaughter of Mao Zedong
2. Deng Zhifanf, son of Deng Xiaoping
3. Deng Zhuodi, grandson of Deng Xiaoping
4. Zhuo Yue, granddaughter of Deng Xiaoping
5. Jiang Mianheng, eldest son of Jiang Zemin
6. Jiang Zhicheng, grandson of Jiang Zemin
7. Hu Haiqing, daugter of Hu Jintao
8. Xi Mingze, daugter of Xi Jinping
9. Yang Jiechi, senior member of CCP entire family
10. too many just ignore the rest

From the crisis of Zhongzhi and Evergrande could explain the above CCP 2nd & 3rd generation red guard army so rich and migrated to America.

No need. Over 75% of foreign money invested into Chinese stocks in 2023 has left. Foreign funds will buy.

中國「雷曼時刻」逼近　中植系爆雷上兆債權停兌

https://youtu.be/tvWv8tahe5w?si=LwU-_9tR4Gx3Tvhp

CCP Successful ? go telling all these pity investors

CCP sucking the blood of investors. CCP behind Zhongzhi. Without CCP no organisation could use the wording "zhong" as company name.

Evergrande’s chairman, Hui Ka Yan, already kena ISA just like both eliminated ex-ministers. CCP ISA worse than 3rd world countries. No wonder those retired 2 & 3rd generation red guard army migrated to the westerns and not Russia or North Korea.

No foreign investor willing to invest in CCP under dictator Xi administration.

Dictator Xi might change any policy just wake up in the morning.

The sharp selling in recent months puts net purchases by offshore investors on course for the smallest annual total since 2015, the first full year of the Stock Connect programme that links up markets in Hong Kong and mainland China.

Traders and analysts said a lack of forceful policy support from Chinese leaders had convinced global institutional investors to hold off on buying until growth rebounded enough to make China’s market competitive with others in the region.

Over 75% of foreign money invested into Chinese stocks in 2023 has left


More than three-quarters of the foreign money that flowed into China’s stock market in the first seven months of the year has left, with global investors dumping more than $25bn worth of shares despite Beijing’s efforts to restore confidence in the world’s second-largest economy.

Evergrande’s chairman, Hui Ka Yan, already kena ISA just like both eliminated ex-ministers. CCP ISA worse than 3rd world countries. No wonder those retired 2 & 3rd generation red guard army migrated to the westerns and not Russia or North Korea.

debts RMB420 billion VS total assets RMB200 billion. double.

According to Zhongzhi, the intermediaries have conducted a comprehensive liquidation of the group's assets and found that the carrying amount of the group's total assets is approximately RMB200 billion based on the intermediaries' simulated consolidation.

At the same time, due to the huge scale of debts, the principal and interest of the relevant liabilities after excluding the guarantee deposits would be approximately RMB420 billion to RMB460 billion. Zhongzhi said it is seriously insolvent and has significant going concern risks, and the resources available for debt repayment in the short term are far below the overall debt size.

If CCP want to cheat, the evil will cheat big. Amid property crisis still allow CCP's companies to raise funds.

Zhongzhi Group Admits Having Debt of Over RMB420B, Seriously Insolvent

According to domestic media reports, Zhongzhi Group released an open letter to investors that its related products have been in material breach of contract one after another, and apologised to investors.

RMB 420B Changes not seen for hundreds of years - bad debts in human history by CCP. Worse than 3rd world country.

“Preliminary due diligence shows the group has endured a significant risk of sustainable business operation and the company doesn’t have sufficient assets to cover debt in the short term,” the firm said in the letter sent to investors. Previous efforts at a “self-rescue” failed to live up to expectations, according to the letter.

Zhongzhi, one of the country’s largest private wealth managers, is the latest financial giant to run into trouble amid a housing crisis and sluggish growth in the world’s second-largest economy. The manager of more than 1 trillion yuan in assets was thrust into the spotlight in August after one of its trust-company affiliates failed to make payments to customers on high-yield investment products.

One of China’s largest shadow banks warned it’s “severely insolvent”, with a debt pile more than two times higher than assets, according to a letter seen by Bloomberg News.

In a further sign of trouble for the nation’s $US3 trillion ($4.6 trillion) trust sector, Zhongzhi Enterprise Group told investors on Wednesday that it has debts of about 420 billion yuan to 460 billion yuan, compared with assets of 200 billion yuan. Liquidity has dried up and the recoverable amount from asset disposals is expected to be low, the company said.

From real estate bubble to banking. Nobody could stop including AV, BV, CV, DV, EV.

China’s troubled shadow bank Zhongzhi warns of insolvency

One of China’s largest shadow banks warned it’s “severely insolvent”, with a debt pile more than two times higher than assets, according to a letter seen by Bloomberg News.

In a further sign of trouble for the nation’s $US3 trillion ($4.6 trillion) trust sector, Zhongzhi Enterprise Group told investors on Wednesday that it has debts of about 420 billion yuan to 460 billion yuan, compared with assets of 200 billion yuan. Liquidity has dried up and the recoverable amount from asset disposals is expected to be low, the company said.

Clean energy's dirty secret: the pond in China filled with toxic leftovers

https://youtu.be/bLFYChw5c0Y?si=KD75Am4R0VwaGUKV

Not only air pollution water pollution is alarming. CCP only interested in GDP.

Pollution returns to northern China as industrial activities rise
Reuters
March 6, 20237:56 PM GMT+8Updated 9 months ago

BEIJING, March 6 (Reuters) - Thirteen northern Chinese cities surrounding the capital Beijing have issued pollution alerts over the last few days, raising concerns that an industrial recovery in the region is increasing smog levels.

All 13 cities, including Tianjin and Tangshan, China's biggest steelmaking centre, had issued "orange" heavy pollution alerts by Sunday, the second-highest alert, the National Joint Research Center for Tackling Key Problems in Air Pollution Control (NJRC) said.

'Dark' side of air pollution across China poses potential health threat

China is a nighttime "hot-spot" for the production of nitrate radicals (PNO3) that could have a major impact on health-threatening ozone and fine particulates (PM2.5) in the atmosphere, a new study reveals.

CCP only intersted in GDP but ignore pollution issues.

Air pollution in China is falling — but there is a long way to go
Easy gains from upgrading power-plant smokestacks will be strengthened only by deeper policy changes.

China's smog-covered north on highest pollution alert as visibility drops
By Liz Lee
October 31, 20237:34 PM GMT+8Updated 23 days ago

CCP 70% coal power plants was the number one carban emission in the world, the more EV the more carbon emission. Talk what reduce climate change.

by next years most of the Apple i-15 selling oversea will be made in India.

by 2030 most of the CCP EV manufacturers go bankrupcy for sure due to oversupply.

Driving Ev does not mean that person more superior

Posted by foongsh > 1 hour ago | Report Abuse

China's Lemon EVs Flood the Market | Auto-Driving Failures, Spontaneous Combustion

https://youtu.be/B2o_A0mgbb8?si=0cP5mFY3obCVx3dj

CCP EV killing amongst themself, only developing countries enjoy the EV discounts.

CCP has no fight with Singapore. Singapore GDP per capital sky high CCP smoke also could not smell. Singapore could elect their leaders.

The agreement calls for a pause in the fighting and for Hamas to free 50 of the captives it seized in its Oct. 7 raid on Israel. Hamas said Israel would release 150 Palestinians held in Israeli prisons.

China Expresses Strong Dissatisfaction with EU’s Electric Vehicle Investigation

CCP EV no market in EU. 3rd world country not enough power supply for EV. Developing countries will enjoy CCP subsidies cheap but lower quality EV. Most of the CCP EV manufacturers going bankrupcy, EV sold at lost this was shown in their QR.

Due global supply chain restructuring Samsung and Apple handphone manufacturing plants moved to Vietnam and India , CCP handphone exports has been replaced. This was shown in CCP export dropped.

Financial Crisis in China: Struggles of Local Governments Amidst Economic Collapse | TDTV

https://youtu.be/X0PAPklHtCs?si=mMjHRFtJb7klN0Pb