HONG KONG - A court in Beijing declared on Friday that it has accepted an application for bankruptcy liquidation by Zhongzhi Enterprise Group, the embattled Chinese wealth manager with substantial debt.
China debt crunch
Chinese shadow bank Zhongzhi's bankruptcy accepted by Beijing court
Judges recognize the case to be 'complicated'
A court in Beijing accepted a bankruptcy application of Zhongzhi Enterprise Group, embattled wealth manager. Zhongrong International Trust is a trust company partially owned by Zhongzhi. © Reuters
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