Caixin OnlineFinance & EconomicsTop Stories Finance Failure of Trusts Sends Ripples through Industry
02.06.2013 12:36

Failure of Trusts Sends Ripples through Industry

Citic has refused to use its own money to repay investors in troubled products, opening the door to a brave new world of risk assessment
By staff reporters Zhang Yuzhe, Ma Yuan and intern reporter Liu Zhuozhe
 
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(Beijing) – For many trust investors in China, losing money did not even seem to be a real possibility because of the implicit repayment guarantee by trust companies.

They probably need to reconsider.

This is particularly true for those who bet on two trust products sold by Citic Trust Co., the nation's largest trust company in terms of asset value.

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