Joe Zhang, now chairman of Wansui Micro Credit Company, says they are in better shape than many mainstream banks and provide a much-needed social service.
Tag : shadow banking
The CBRC says principal and non-principal guaranteed wealth management products issued by banks should not fall under shadow-banking. But this doesn't appear to address the risks.
Fund-of-funds manager Gen2 Partners is targeting AUM of $275 million and an initial close by the end of this year, pointing to an estimated $500 billion shortfall in SME financing in China.
