Another Red Ponzi Debt Eruption: ABS Market Grows 10X In Five Years

The asset-backed market is expected to expand 45% to 4.5 trillion yuan ($654 billion) by the end of this year, said Zuo Fei, general manager of the innovation financing department from China Merchants Securities Co. The sector also had little impact from the surprise government takeover of a troubled lender in May, he said.