China Bank Regulator: Focus On Local Government Finance Loans
The Wall Street Journal, May 9, 2011
May 08, 2011 at 08:00 PM
1 minute read
The original version of this story was published on Law.com
China is paying a great attention to local government financing loans, a senior official of the China Banking Regulatory Commission said Monday, warning of the risk to the financial sector of the spread of debt problems, as with the Greek sovereign crisis.
China has urged local bank regulators and financing institutions to rein in loan growth this year to local government financing vehicles, with only the central headquarters of Chinese banks having the authority to approve such loans.
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