A woman takes a photo of the Lujiazui financial district across the Huangpu River on the Bund promenade in Shanghai, China, on March 5, 2026. Jade Gao/AFP via Getty Images
More than six months after the collapse of the Zhejiang Financial Asset Exchange Center, also known as the Zhejiang Financial Center, hundreds of creditors say they are still waiting for a concrete repayment plan, as frustration mounts over alleged regulatory failures and a lack of transparency.
On June 5, a group of creditors traveled to a provincial petitioning office in Zhangjiaba, where they called on regulators to release audit filings and explain how internal whistleblower reports were handled, according to videos circulating online. They also questioned why the platform was still allowed to issue more than 200 financial products before its license was revoked.