Caixin OnlineFinance & EconomicsTop Stories Finance Trust Product's Rescue Too Close for Comfort
02.12.2014 15:38

Trust Product's Rescue Too Close for Comfort

Echoing similar recent bailouts, investors in a mine-related trust were spared the pain of a borrower's default
By staff reporter Liu Zhuozhe

(Beijing) -- Hundreds of investors were counting down to a big payoff when suddenly the trust company handling their money warned they might lose everything.

The online warning issued by China Credit Trust Co. Ltd. (CCT) on January 15 said an investment product that financed a struggling coal mining concern in the northern province of Shanxi might default. The product was to mature just two weeks later, on January 31, the first day of the lunar new year.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now
COMMENTS (0)
Sign up to receive our free daily newsletter

LATEST VIDEOS

Latest Issue
On the Cover:

Kingdom Collaboration

An interview with the CEO of the Saudi kingdom’s oil giant points to closer ties between China and its largest crude supplier


Issue 89
May , 2015

POPULAR GALLERIES

SUBSCRIPTIONS

Caixin-China
Economics & Finance
Latest Issue:
Kingdom Collaboration
An interview with the CEO of the Saudi kingdom’s oil giant points to closer ties between China and its largest crude supplier
Issue 89
05.01.2015

Subscribe       |       Newsletter        |        FAQ