HONG KONG -- The failure of one of China's largest trust companies to pay interest on its investment products has hit the books of at least six listed companies, in a sign that the turmoil in the nation's property market is spreading to the wider economy.
Hangzhou Weiguang Electronic, Hangzhou Innover Technology, Kingfore Energy Group, Nacity Property Service Group, KBC and Xianheng International Science and Technology have all disclosed this month that they have failed to receive scheduled payments due on trust products issued by Zhongrong International Trust, a unit controlled by Zhongzhi Group.
