This shadow banking sector has been smashed by mounting losses on loans to the property sector. Which is hardly surprising. Contagion.

The National Audit Office has been inspecting the books of 20 trust firms, including the biggest 5.

Reuters with more here

This plenum is the biggest meeting in China all year, runs Monday to Thursday (November 8 to 11).

President Xi is up for election in November at the CCP Congress. He is desperately trying to hold everything together.