Investor Presentaiton

Example China Credit Trust company raised RMB 3 billion through a trust product called "Credit Equals Gold No.1" in 2011 sold to 700 hundreds of high net worth investors through the private banking arm of Industrial and Commercial Bank of China (ICBC). The fund channelled to Zhenfu Energy company for new projects in coal mining industry in Shanxi province and the product promised investors a yield of 10 cent in the next three years per Business model: Zhenfu pays 15% → 10% to investor, 2% to CCT, 3% to ICBC Remark: First high profile near default case in 2/2014 (later more on resolution)

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