Chinese shadow lender Zhongzhi files for bankruptcy
中植集团申请破产清算
Property market woes have spread to financial sector and hit savers after bad loans to developers
北京一家法院已受理中植集团破产清算申请，人们担心中国房地产市场危机正蔓延至金融服务业，对储蓄者造成打击。
Zhongzhi, the conglomerate at the centre of China’s $3tn shadow banking market, has filed for bankruptcy, saying that it was “severely insolvent”.A Beijing court accepted a bankruptcy and liquidation application from Zhongzhi on Friday, stating that the group was unable to pay its debts.
置身于中国3万亿美元影子银行市场中心的企业集团中植(Zhongzhi)已申请破产，承认其“严重资不抵债”。
In an open letter to investors, Zhongzhi said not only that it was “severely insolvent” but that management had “run wild” after the 2021 death of founder Xie Zhikun. It added that total assets amounted to just Rmb200bn ($28bn) against obligations of up to Rmb460bn.
北京一家法院上周五受理了中植集团的破产清算申请，称该集团无法清偿债务。
Zhongzhi’s wealth management arm came under a police investigation over unidentified crimes in November, days after the group declared a shortfall of as much as $36.4bn.
中植在致投资者的公开信中表示，在创始人解直锟2021年去世后，该公司不仅“严重资不抵债”，而且“内部管理面临失效状态”。该公司补充称，总资产仅为2000亿元人民币（合280亿美元），而负债高达4600亿元人民币。
