China’s banking regulator declares victory in campaign to curb financial risk

//China’s banking regulator declares victory in campaign to curb financial risk

China’s banking regulator declares victory in campaign to curb financial risk

The risk of a financial meltdown in China’s economy has been largely allayed, a senior industry official said on Tuesday, suggesting the government’s three-year campaign to tackle soaring debt and high-risk lending might be coming to an end.“The barbaric growth of shadow banking and overheating of real estate financing have been reined in through strengthened supervision,” Wang Zhaoxing, deputy chairman of the China Banking and Insurance Regulatory Commission (CBIRC), said at a press conference…

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By | 2019-02-25T12:46:16+00:00 February 25th, 2019|Headlines|Comments Off on China’s banking regulator declares victory in campaign to curb financial risk