Angry investors reportedly protested outside the Beijing offices of Zhongrong International Trust after it missed payments on numerous wealth management products.
Around two dozens individuals staged a protest outside the Beijing offices of Zhongrong International Trust over missed payments for wealth management products, according to videos posted on Chinese social media. They were met by around 10 police and security officers as well as a company official.
One women angrily asked why the firm would not make the payments despite financial statements that claim profitability.
The protests follows payments that were reportedly overdue on at least 30 products by Zhongrong. There are no immediate plans to make investors whole due to insufficient short-term liquidity. Meanwhile, Chinese authorities have formed a task force to study contagion risk.
