China Shadow Banking: 6 Trusts Linked To Debt-Ridden Coal Company, Liansheng Group, Facing Default Risk

More troubling news about China's shadow banking sector surfaced Friday. The state media reported that the industry's exposure to a debt-ridden coal company, Liansheng Group, extends far beyond Jilin Trust -- the nonbank financial institution that is about to default on the fifth of a total six tranches amounting to nearly one billion yuan ($165 million) in trust products.