Catastrophe in China’s Finance: Relentless Crackdowns, Raids, With Security Agencies Intervening

In the financial sector, a grim pattern has emerged: arrests are made, assets are confiscated, and deficits are filled. The case of Zhang Yukun, president of Shengjing Bank in Shen Yang, who was arrested for lending 100 million to Evergrande and demanding a kickback of 30 million, exemplifies the crisis. For lending 270 billion, a kickback of 81 billion was sought. Her arrest has led to asset confiscation and debt repayment. #chinaeconomy #chinaobserver All rights reserved.