"Zhongzhi, Chinese Financial Firm, Enters Bankruptcy Amid Contagion Worries"

Chinese shadow lending company Zhongzhi has filed for bankruptcy, signaling troubles within the shadow banking sector in China. This move reflects the growing financial distress among non-traditional lenders in the country, which could have broader implications for the Chinese economy and financial stability. The bankruptcy filing comes amidst regulatory crackdowns and a push for greater transparency in the financial sector.