An investor looks at stock information at a brokerage house in Shanghai on October 15. Photo: AFP
Is Chinese capitalism in crisis, as stock market rout drives private companies into the state’s arms?
- China is sitting on a minefield of collateralised loans, with a third of the 4.5 trillion yuan of pledged shares almost at forced liquidation levels
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The 33 per cent plunge in the Shenzhen Composite Index this year has wiped out 7.6 trillion yuan
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China stock market
An investor looks at stock information at a brokerage house in Shanghai on October 15. Photo: AFP