Jan 09, 2018 11:45 AM

Editorial: How China Can Prevent Systemic Risk

The banking regulator has recently announced its punishment for a number of banks involved in illicit practices in 2017, imposing record fines totaling more than 2 billion yuan ($308 million).

China Guangfa Bank, which was found to have fabricated loan guarantee documents in a high-profile bond default scandal, was fined 722 million yuan. However, other players involved in the 1.1 billion-yuan bond, including underwriter Guangdong Equity Exchange and an Alibaba Group-affiliated internet platform that sold the bond, have not been held responsible.

You've accessed an article available only to subscribers
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.