Long blessed with licenses that allow them to invest in a wide range of assets, Chinese trust companies poured the money they manage and channeled bank loans into property developers such as China Evergrande Group. But now with Evergrande in crisis and many other property developers also missing debt payments, these investments have come back to bite the trust industry.
Caixin
Burned by developers, China's trust industry pulls back from property
The $3tn sector scales back investments in real estate as it scrambles for cash
Unfinished residential buildings in Luoyang, China. Losing money from their property investments, some trust companies are cutting back their immense investments in the real estate sector. © Reuters
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