Good news.
It's all fireworks in China right now, Zhongzhi Enterprise Group, which has about 1 trillion yuan ($213 billion) in assets under management fails to make payments on multiple high-yield products
https://www.afr.com/world/asia/china-trust-giant-s-missed-payments-alarm-investors-20230814-p5dwdt
Trusts are coming under pressure, AVIC and Everbright who is also half a trillion in Yuan in size are showing signs of wobbling.
https://www.youtube.com/watch?v=sQKN5FlbbPc
With a lot of the country and the government's attention on the floods in the Beijing area, do they really have the time and stomach to bail these guys out should they begin to fail?
What kind of knock-on effect will they have on Asian markets?
Large Real Estate Firms in China were already feeling the pinch with Evergrade failing and Country Garden missing payments recently