Anxin Revives Trust Business as Revamp Nears End
Anxin Trust Co. Ltd. (600816.SH) was cleared to resume its core trust business after more than two years of suspension amid a three-year overhaul and a government bailout after it failed to repay billions of yuan to creditors and investors.
Shanghai-traded Anxin received notice that the Shanghai banking and insurance regulator lifted a freeze on its self-managed trust business, the company said late Tuesday. Anxin’s core revenue source has been on hold since late March 2020 after regulators found the company violated industry rules.
- MOST POPULAR