High-profile defaults highlight risk in China’s shadow-banking sector amid asset deterioration

A slew of high-profile defaults in China’s shadow-banking sector has highlighted the acute deterioration of assets in the US$9 trillion market, analysts said.Noah Holdings, one of China’s largest wealth and asset managers, revealed last week that 3.4 billion yuan (US$500 million) of investment in Camsing International is in danger of default, after Camsing’s controller Lo Ching was arrested by police for suspected fraud.In early June, Anxin Trust disclosed that it had missed payments of 11.8…

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