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China plans to shutter more than half of its trust and investment companies this year, as regulators try to fix one of the weakest links in China's flimsy financial sector. Trust and investment companies, which had grown rapidly in the 1990s, are seen as risky and poorly regulated, and many had invested in risky assets such as real estate and stocks, leading to concerns about their solvency.
Tuesday, 15 February, 2000