China Police Visit Shadow Bank Investors at Home to Quash Unrest
- Police received names of clients across China, investors say
- Fears of contagion mount after Zhongrong missed payments
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Investors from across China who put money in a troubled shadow bank said police officers visited their homes and urged them to avoid public protests, the latest sign authorities are worried about unrest as fears grow of financial contagion.
Dozens of people who invested in Zhongzhi Enterprise Group Co.’s wealth management products have received what they described as cordial visits from police in recent weeks, according to investors who asked to remain unidentified to avoid trouble with the authorities. The group spanned a wide geographic area, including the capital Beijing, the southwestern province of Sichuan, and the coastal areas of Jiangsu and Shandong.