The planting enterprise group in China asset management giants has only been half a year from explosive to the application for bankruptcy liquidation.The analysis believes that the Chinese government hopes to solve the problem as soon as possible, curb the spread of risks, and define investors. At the same time, signals to the market: High -risk and high -yield products at the high -speed growth period of real estate are no longer in line with the current regulatory requirements.
Zhongrong Trust, a subsidiary of Zhongzhi Enterprise Group, was confirmed to be overdue last August and disclosed at least 420 billion yuan (78.65 billion yuan) debts in November last year.Last Friday (January 5), the Beijing First Intermediate People's Court stated in its WeChat public account that China -planting Enterprise Group applied for bankruptcy and liquidation on the grounds of failure to settle due debts and obvious lack of liquidation.This case.
Bloomberg quoted people familiar with the matter and said that Chinese officials have concluded that as early as October last year, bankruptcy is the most effective way to restrict the impact on the financial market.The report pointed out that the Chinese leadership uses an unusually rapid way to solve the problem of the China planting group.
Li Haiquan Li Haiquan, a lawyer of Shanghai Shenyi Law Firm, said in an interview with Lianhe Morning Post that the Chinese plant business involves equity investment, real estate, and urban investment bonds.Each financial asset type credit.
Quickly solve the explanation of the creditors, but the loss is still unavoidable.Bloomberg said that China -plant bankruptcy may cause investors to lose up to $ 56 billion (S $ 74.5 billion).
Risk clearing will also hurt the land industry.The bankruptcy liquidation means that the assets of China will handle, discount auction, etc. in the next place, and set off in accordance with the priority and proportion of debt rights.
Li Haiquan analysis, the main assets of China Plant Investment include urban investment bonds, company equity and real estate projects, urban investment bonds and listed companies' equity sales, but it is difficult to sell real estate.Those real estate projects that cannot be auctioned and unable to go out in reality may become non -performing assets.
Experts: The Chinese Plant Model Comes to an end
Zhongzhi managed more than 1 trillion yuan in management assets during the heyday, holding more than 10 listed companies, holding multiple financial licenses, with about 200,000 customers across the country, with a investment amount of millions.Its business model is to attract funds at the front end with high interest rates. The back -end investment in real estate companies, urban investment bonds, and listed companies, with a higher return with real estate growth.In 2021, China tightened real estate credit, and many real estate companies broke up one after another, and the crisis in China also emerged.
The unnamed experts told the United Morning Post that the signal of the processing of Zhongzhi to the capital market is that high -risk and high -yield products with high debt leverage and real estate as the target are no longer in line with the current financial regulatory requirements.
The Central Financial Work Conference in October last year requires the theme of promoting high -quality financial development, comprehensively strengthening financial supervision, effectively preventing and resolving financial risks, and firmly on the bottom line that does not occur without systemic financial risks.
The experts have studied and judged that under the overall regulatory ideas of high -quality development, risks, and leverage, the thunder of China planting is inevitable.During the slowdown of economic growth, the central government's idea is to supervise and high -quality growth, as well as controlling risks.
He said that Zhongzhi represents some historical problems of some trusts and wealth management as shadow banks. This year, there may be trusts and non -calibration products.
In December last year, the wealth management products of Haiyin Wealth of China's largest real estate wealth management product products also had overdue payment.
