China Likely to Take Aim at Shadow Bankers by March: Sources
Beijing is likely to roll out unified regulations to tame the country’s “shadow banking” sector before its annual legislative sessions, which are slated to open in early March, people familiar with the matter told Caixin.
The proposed regulations for the $15 trillion asset-management industry were published in November on the People’s Bank of China’s website. The final version is likely to be subject to amendments that will have to be approved by the Financial Stability and Development Committee of the State Council, China’s cabinet, knowledgeable sources close to the regulator said.
- 1Chart of the Day: ‘Made in China 2025’ Dropped From List of Local Government Priorities
- 2‘Aquaman’ Makes Huge Splash in China Box Office
- 3Update: Huawei CFO Faces U.S. Fraud Charges, Canadian Court Told
- 4Update: China Logs Record-High Surplus With U.S. Despite Softening Overall Export Growth
- 5It Has Been a Bad Year for the Yuan. 2019 Could Be Worse
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas