The Wall Street Journal’s Chinese website reports that China Credit Trust has reached agreement with investors in a product that it sold that is now at the center of default speculation. Investors are being asked to contact their wealth manager for details, the short report said.
China Credit Trust and Industrial & Commercial Bank of China have been in talks with local governments in Shanxi province over the CNY 3 bln trust product which had been reported would fail to pay to out on Jan 31
The news was out a little while ago and would help account for a little more risk appettite with stocks and yen crosses higher, but there had been growing expectation that an agreement would be reached.
