Shenzhen tech company the latest victim of China’s 100 trillion yuan wealth management market

Shenzhen tech company the latest victim of China’s 100 trillion yuan wealth management market

China’s sprawling but loosely regulated 100 trillion yuan (US$15.2 trillion) wealth management product sector just reported its latest casualty. A Shenzhen-listed technology company plunged by the daily limit on Wednesday after reporting that a 500 million yuan investment with a wealth management company was unrecoverable. The company’s loss sheds light on a problem shared by […]

Sanctions busting Hong-Kong ship is seized by South Korea

Sanctions busting Hong-Kong ship is seized by South Korea

South Korean authorities have boarded and seized a Hong Kong-flagged ship suspected of violating U.N. sanctions by transferring oil to a North Korean vessel in October, its foreign ministry has said. Crew members from the vessel, Lighthouse Winmore, are being questioned about allegedly transferring 600 tons of refined petroleum products in international waters after leaving the […]