Some 780 Mln Yuan in Short-Term Notes 'Missing from Bank of Tianjin'

(Beijing) – A city commercial bank has found that more than 780 million yuan worth of bills of exchange stored in its vaults have gone missing, the latest in a string of scandals that shed light on the country's booming bills market which until recently has been little supervised.

The Bank of Tianjin, which went public in Hong Kong on March 30, announced on April 8 that police in Shanghai had opened an investigation into a "risk event” at a branch in Shanghai. Some 786 million yuan worth of bills of exchange were involved, it said.