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Diversified Financial Services
FINANCIAL | Securities Brokers & Traders
zts.com.cn

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Founded Year

2001

Stage

IPO | IPO

Date of IPO

6/3/2020

About Zhongtai Securities

Zhongtai Securities provides brokerage and underwriting services.

Zhongtai Securities Headquarter Location

128 Jingshi Road

Jinan, Shandong,

China

86 53 1812 83906

Latest Zhongtai Securities News

China Funds Counting On Beijing to Contain Evergrande Contagion

Sep 25, 2021

25 Sep 2021, 8:05 AM IST 25 Sep 2021, 5:30 AM IST 25 Sep 2021, 8:05 AM IST Save (Bloomberg) -- The closer investors are to Beijing, the less they fear that China Evergrande Group’s debt crisis will cascade into a wider financial meltdown. (Bloomberg) -- The closer investors are to Beijing, the less they fear that China Evergrande Group’s debt crisis will cascade into a wider financial meltdown. That’s the lesson from China’s equity markets this week, which held firm in the face of concern about whether the world’s second-biggest economy was headed for a “Lehman moment.” That’s reinforced by Chinese firms continuing to sell dollar bonds and the yuan riding through this month little changed. “There’s never been a precedent of letting a mega corporation go bankrupt” in China, said Niu Chunbao, a fund manager at Shanghai Wanji Asset Management Co. The government will not let the situation spiral out of control, he added. That kind of confidence was conspicuously absent on Monday, with mainland China closed for a two-day holiday and equity markets from Hong Kong to New York swooning amid concern that Evergrande would default on its debts. When Chinese traders logged back on Wednesday, they pushed the benchmark CSI 300 Index down a touch before returning to buy-mode for most of the next two days. It ended the week 0.1% lower while a measure of Shanghai-listed real-estate stocks rose more than 3% over the period. That’s not to say that Chinese investors don’t see significant fallout coming from Evergrande, just that they expect it to be largely contained to companies with close links to the developer. That includes banks that extended credit, investors in its bonds, suppliers that depend on its projects and some of Evergrande’s peers. Regulatory Playbook “There is an existing rescue system in place and examples to draw from,” Zhongtai Securities Co. analysts including Dai Zhikang wrote in a note this week, citing restructurings like conglomerate HNA Group Co. If they are right, investors can expect a drawn-out process in which regulators start by nudging the company to save itself through asset disposals and negotiations with creditors and stakeholders. Only after that, would the government help with liquidity and market stabilization measures. And much later would come strategic investors, likely state-backed, to deal with what’s left. Read more on the Evergrande crisis:

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CB Insights Intelligence Analysts have mentioned Zhongtai Securities in 1 CB Insights research brief, most recently on Oct 4, 2021.

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