China trust firm says reached agreement to resolve troubled shadow-bank product

Written by Reuters | Shanghai | Updated: Jan 28 2014, 08:55am hrs
China Credit Trust said on Monday that it had reached an agreement with investors regarding a troubled high-yielding investment product due to mature on January 31, according to a notice to investors obtained by Reuters on Monday. The announcement appears to mark an end to the closely-watched saga surrounding the high-yielding 3-billion-yuan ($495.97 million) trust product, called 2010 China Credit / Credit Equals Gold #1 and marketed through branches of Industrial and Commercial Bank of China.