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Jeff Pao
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- Chinese wealth management firm stiffs big investors14 Aug 2023—Asia TimesA 36-year-old wealth management firm in China with more than 100,000 high-net-worth clients delayed payment of its maturing wealth products as both the company and its parent firm faced a liquidity crunch due to soured investments in the property sector. Zhongrong International Trust, formerly known as Harbin International Trust, which was established in 1987, has failed to give money back to its clients over the past few days after its second-largest shareholder, Zhongzhi Enterprise Group,...
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