Many trust companies received phone calls last Friday from the China Banking Regulatory Commission. The business of trust companies will be curtailed as the volume of wealth-management products account for two-thirds of their total business.This is the practiced used by banks and finance companies in the U.S. to remove mortgages from their balance sheet, but the Chinese are nipping this practice in the bud.
China Oceanwide’s LA ‘Graffiti Project’ Up for Sale After Creditors Sue
Developer
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Two months after making global headlines for being one of the world’s
largest graffiti takeovers, a downtown Los Angeles project by China
Oceanwide Holdi...
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