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China wealth manager Zhongzhi flags insolvency, liabilities of $64 bln

China wealth manager Zhongzhi flags insolvency, liabilities of $64 bln

Thu, Nov 23, 2023

The firm, which has sizable exposure to China's real estate sector, apologised to its investors in a letter that said it had total liabilities of about 420 billion yuan ($58 billion) to 460 billion yuan ($64 billion).

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