CBRC warns against shadow fi­nance

China Daily (USA) - - BUSINESS -

China’s bank­ing reg­u­la­tor, in a move to curb opaque shadow fi­nanc­ing, told the na­tion’s city banks to learn the les­son of the global fi­nan­cial cri­sis and get back to their tra­di­tional busi­ness. “City com­mer­cial banks should stop al­lo­cat­ing more funds into in­vest­ing than lend­ing as soon as pos­si­ble. They are de­vel­op­ing their off-bal­ance-sheet busi­nesses too fast,” Shang Fulin, chair­man of the China Bank­ing Reg­u­la­tory Com­mis­sion, said in a tran­script posted on the agency’s web­site.

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