Zhongzhi Enterprise Group controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2023
Wealth product redemption crisis and massive insolvency; bankruptcy petition accepted in 2024
In 2023, Zhongzhi Enterprise Group disclosed liabilities of RMB 420–460 billion, acknowledged severe insolvency, and apologized to investors; the affiliated wealth management companies were placed under investigation. In 2024, a court accepted the group's bankruptcy liquidation petition. The group's stated liabilities and the amounts involved in the criminal case are calculated on different bases.