It was a tough year for China's trust companies in 2022, as many reported shrinking revenue or profits due to losses on their immense real estate investments, while regulators tightened scrutiny over the 22 trillion yuan ($3.2 trillion) trust industry.
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Chinese trust companies are dumping risky assets: 5 things to know
Long a source of shadowy funding for developers, industry now faces reckoning
A real estate project under construction in Guangdong province, China in 2021. The government is clamping down on speculation and excessive debt in the property industry. © Reuters
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