China’s state-run media has called for Beijing’s ongoing deleveraging campaign to be conducted in an “orderly” fashion, with a view to more effectively containing systemic financial risk.
The China Banking Regulatory Commission is maintaining heavy pressure on the country’s lenders, issuing a total of 372 fines during the period from the start of 2018 until 11 February.
The Chinese government has told the country’s banks to keep new renminbi lending steady in the lead up to the Lunar New Year, according to sources speaking to Caixin.
China’s central government appears intent upon keeping a lid on “covert borrowing” by the country’s local governments as part of its ongoing deleveraging campaign.
The state planning agency says that the role played by “new drivers” of economic growth in China is undergoing rapid increase.
The latest official data indicates that new RMB loans hit an unprecedented high in January despite the Chinese government’s ongoing deleveraging campaign, while the shadow banking crackdown has led to a sharp contraction in off-balance sheet credit.
The Chinese central government has released a list of “sensitive industries” that will subject to curb on outbound foreign investment starting in March.
Beijing’s heavy-handed crackdown on the shadow banking sector has spelt disaster for Chinese companies that overextended themselves on foreign investments when cash was ample.
The China Securities Regulatory Commission is planning to launch nation-wide on-site investigations of the country’s privately offered funds.
The China Banking Regulatory Commission is launching what it claims are the first measures aiming to standardise administration of the conduct of banking sector professionals.