CX Daily: The Vast Funding Network Outside Vanke
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In Depth: The Vast Funding Network Outside Vanke
China Vanke Co. Ltd. is facing renewed scrutiny after former President Zhu Jiusheng came under investigation, as a complex funding network left some investors’ funds tied up and the cash-strapped developer still struggles under a heavy debt burden.
During his 13 years at Vanke, Zhu, a veteran banker who is well-connected in Shenzhen’s financial circles, emerged as an architect of the Shenzhen- and Hong Kong-listed company’s capital operations, leveraging his roles both at the developer and its related firms.
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