China is tightening oversight of rapidly expanding shadow-banking services, in a sign the country’s leadership is seeking to slow a run-up of debt and bolster financial stability.
China’s cabinet has distributed rules to regulators aimed at limiting the growth in loans created outside formal channels for bank lending, according to a copy of the document reviewed by The Wall Street Journal. In the plan, which was sent in December and hasn’t been made public, the State Council calls for stronger oversight of such informal lending by the central bank and other regulators.
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Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/1uAvDJfDudU/
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