China moved to rein in wildly popular but opaque investment products that form a key plank of the nation’s shadow-banking system, after the high-profile failure of one product offered a glimpse of the risk they pose to the financial system.
The rules issued Wednesday by China’s banking regulator came as China’s four biggest state-run banks said they had more than 3 trillion yuan ($467 billion) worth of such products outstanding at the end of last year, their fullest disclosure yet of their exposure to the products and a move signaling their own caution toward their proliferation.
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Dinny McMahon And Aaron Back, Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/jinBu1KOjE4/
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