China’s ‘Secret Financial Empire’ Collapses in Leadup to the Vote for Next Communist Party Leader

China’s ‘Secret Financial Empire’ Collapses in Leadup to the Vote for Next Communist Party Leader
A clerk counts stacks of US dollars and Chinese yuan at a bank in Shanghai, China on July 22, 2005. China Photos/Getty Images
Shawn Lin
Updated:

Tomorrow Holdings, the most secretive conglomerate in China’s capital markets, is facing dismantlement by the country’s top financial regulator.

On Aug. 3, the Inner Mongolia Supervisory Bureau, under China Banking and Insurance Regulatory Commission (CBIRC), announced a raft of penalties against the conglomerate.

Shawn Lin
Shawn Lin
Author
Shawn Lin is a Chinese expatriate living in New Zealand. He has contributed to The Epoch Times since 2009, with a focus on China-related topics.
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