‘Channeling’ Business Thrives in China’s Trust Industry Despite Curbs
Despite a government clampdown, China’s trust industry still relies heavily on easy money by “channeling” funds to borrowers often restricted from the formal lending system.
In the three months ended Dec. 31, total trust assets managed by 68 Chinese trust companies grew by 29.81% year-over-year to 26.25 trillion yuan ($4.17 trillion), the China Trustee Association (CTA) reported on Wednesday.
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