China urges banks to come clean on misdemeanors

China urges banks to come clean on misdemeanors

China's banking regulator has already ordered lenders to conduct a series of checks on improper trading, innovation and charges and incentives, in accordance with a document seen by Reuters.

The move turns to be the latest in a bunch of orders from the regulator after Guo Shuqing took office at the China Banking Regulatory Commission in February.

Chinese regulators are actually making attempts to contain risks in the banking system because more borrowers struggle to avert defaults as well as levels of non-performing loans surge.

By means of self-inspections as well as spot checks, the CBRC is eager to ensure there’s no untoward behavior in interbank investment and financing, to say nothing of the investment of wealth management product funds.

Financial experts tell that those two areas happen to be among the riskiest potential flashpoints in the country’s banking system.

Unfortunately, the CBRC couldn’t be immediately reached for further comments.

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