Paying the price in Wenzhou's underground banking system

Mischief comes by the pound and goes by the ounce - and businesspeople in Wenzhou, the mainland's entrepreneurial heartland, learned the lesson of this old proverb the hard way.

The "mischief" in their case, was created by the rise and fall of a deeply entrenched underground banking system in the Zhejiang city, one of the country's most affluent.

via Business feed http://www.scmp.com/business/banking-finance/article/1061186/paying-price-wenzhous-underground-banking-system