China’s CITIC flags interest payment delay on trust product

A trust company run by CITIC, one of China’s largest investment firms, has delayed an interest payment due on an investment instrument marketed to wealthy investors, CITIC said on Monday.

The payment delay could add to jitters over the underlying health of wealth management products either marketed directly to the wealthy or sold through banks to depositors looking for higher interest rate returns.

via Business feed http://www.scmp.com/business/banking-finance/article/1112141/chinas-citic-flags-interest-payment-delay-trust-product