Who’s really behind that Vancouver mountain? A boss at troubled Chinese investment giant CMIG

When Kenny Zou appeared before Canadian media in 2017, he was adamant about the new buyer of Vancouver’s Grouse Mountain, the iconic ski hill that looms over the city, its floodlit slopes a gleaming beacon at night: CM (Canada) Asset Management was a “completely Canadian company through and through”.Yes, Chinese investment giant China Mingsheng Investment Group (CMIG) was a 40 per cent minority shareholder – but it would be a “silent” investor, he pledged, stamping down on reports that Grouse… Source link

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Chinese investment giant CMIG misses bond payment, sending shockwaves through US$11 trillion market

An investment giant backed by dozens of the biggest Chinese firms and dubbed the “the aircraft carrier of China’s private companies” by local media has partly suspended trading of its bonds after missing a repayment. The case underlines the mounting pressure in the country’s US$11 trillion bond market, said analysts, as a liquidity crunch forces an increasing number of heavily indebted companies to the brink of default. China Minsheng Investment Group (CMIG) has stopped taking bids for three of its bonds “due to recent price volatilities”, according to a filing…

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