2020 Sichuan Trust bankruptcy leaves elderly Chinese retirees with financial losses amid broader economic slowdown.

Elderly retirees in China face significant financial losses after Sichuan Trust, a troubled trust fund, went bankrupt in 2020 due to poor accounting and failed investments in the property industry. The government's plan to return a fraction of the investors' money has left some retirees in deep financial trouble. This situation reflects a broader economic slowdown in China, which relies heavily on real estate development for growth and job creation.