Investors look at an electronic board showing stock information at a brokerage house in Shanghai, China, March 7, 2016.
REUTERS/Aly Song/File Photo Acquire Licensing RightsSHANGHAI, Aug 16 (Reuters) - Anxious Chinese retail investors are bombarding listed companies with questions about their exposure to Zhongrong International Trust Co after missed payments by the trust company triggered fears of contagion across the country's financial system.
Zhongrong managed assets worth 785.7 billion yuan ($107.69 billion) at the end of 2022, out of which 629.3 billion yuan were linked to trust products, according to its latest annual report.
Its missed payments had added to stress in the financial sector from the country's worsening property crisis.
One investor on Wednesday asked Shanghai-listed New China Life Insurance Company (601336.SS) - which owned 14 billion yuan ($1.92 billion) of products from Zhongrong at the end of last year - whether there was a risk of missed payments.
Persons:
Aly, Huang Yan, Jason Xue, Tom Westbrook, Tomasz Janowski, Jason Neely
Organizations:
REUTERS, Rights, Zhongrong International, Co, Investors, Shanghai QiuYang, Zhongzhi Enterprise Group, Wednesday, Shanghai, China Life Insurance, KBC Corp, Bescient Technology, Shanghai New Vision Microelectronics, Nanhua, Jiangsu Azure Corp, Topsperity Securities, Thomson
Locations:
Shanghai, China, Shenzhen, Zhongrong, Jiangsu, Singapore