China’s trust sector, the largest segment in the country’s expanding shadow-banking system, grew at its slowest pace in more than two years in the second quarter as trusts grew cautious about lending into a weak economy.
Trust companies work to help commercial banks shift loans off their balance sheets. The loans are typically packaged into high-yield investments known as wealth management products, which are marketed to wealthy investors.
This “channel business” enables banks to evade lending quotas and meet capital adequacy requirements, helping fuel expansive growth in corporate and local-government debt since 2008.
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