China's Shadow Banking

Mimi Lau

A memorial service in Yangshi for Zeng Chengjie.

On July 12, 2013, businessman Zeng Chengjie, 54, was taken from his jail cell at the Second Detention Center in Changsha, the capital of China's southern Hunan province, brought to an execution ground, and shot. The authorities did not inform Zeng's family. The next day, his younger daughter Zeng Shan, hearing rumors of what had happened, rushed to the Changsha Intermediate People's Court to discover her father's name on a list of executed prisoners posted on an outer gate. "I became desperate," she says. "I couldn't believe it." Two days later, her brother was unceremoniously handed a red pouch...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!