Regulator tightens collateral management

China’s top banking regulator has told commercial banks to strengthen management over loan collateral to contain financial risks. Aware of some management irregularities in some commercial banks, the China Banking Regulatory Commission made specific demands concerning classification, evaluation and collateral rate determination in a guideline released onMonday. Commercial banks should make detailed categorization of collateral, while the catalog of acceptable collaterals should be updated at least once a year, according to the CBRC. The regulator also ordered banks to revalue collateral at least once a year, and the ceiling of collateral rates should be adjusted in accordance with business cycles, risk profiles and market condition. as part of the company’s globalization strategy. Users in the three cities will have access to an English language interface upon installing or upgrading the latest version of the Didi app. The bilingual functions will be rolled out to other Chinese cities over time, according to the company statement. The app also enables real-time, in-app instant text messaging translation between English and Chinese for the three major ride-hailing services on Didi’s platform. Users will also have access to bilingual customer service support via email and phone. (of digital future), including newtalents; startups, venture capitalists and corporates, and organizations. Some of the topics we focus on include connectivity, smart mobility and autonomous driving.”

SU YANG / FOR CHINA DAILY Two customers try a virtual fitting room at a department store in Nanjing, capital of Jiangsu province.