Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Huawei’s Harmony OS Will Compete Globally Within 2 Years, Founder Says
German Wholesaler Metro Agrees to Sell China Business to Wumei
LATEST
German Wholesaler Metro Agrees to Sell China Business to Wumei
Huawei’s Harmony OS Will Compete Globally Within 2 Years, Founder Says
Tech Entrepreneurs Dominate Latest Hurun Rich List
BYD Suffers Third Successive Drop in Monthly EV Sales
U.S.-Listed Chinese KOL Company Falls 9% After Flood of Class Lawsuits
Sunac Buys Li Ka-Shing Development in Dalian For More Than $560 Million: Sources
Bridge Collapse in Jiangsu Kills 3
Apple CEO Defends Decision to Block App Used to Track Hong Kong Police Movements
Chinese AI Startup Develops Image Recognition System With Japan Shipping Giant
Gaming Giant Blizzard Gets Frosty Response to Hong Kong Gamer Ban
Apple Pulls Hong Kong Police Tracker from App Store in Latest About-Face
Blacklisted Hikvision’s Stock Plunges Despite Upbeat Expectations
Patriotic Titles Fly the Flag for China’s Box Office During Golden Week
Nio Mini-Comeback Continues With Strong Q3 Deliveries
China Extends Policy Allocating Localities More Tax Revenue Amid Economic Slowdown
China’s 5G Service Preorders Hit 10 Million
Fitbit, Tile Look to Shift Production out of China Amid Tariff Strife
Alibaba, JD.com Stop Selling E-Cigarettes to U.S. Buyers
China Drafts Rule to Ban Price Discrimination in Tourism Services
New Chinese Entries on U.S. Blacklist Say Impact Is Manageable
China Reduces High-Risk Financial Assets by Net $2 Trillion: Regulator

By Timmy Shen / Jun 13, 2019 08:17 PM / Finance

China has been cracking down on the shadow banking sector, reducing high-risk financial assets by a net 13.74 trillion yuan ($1.98 trillion) over the past two-plus years, the country’s top banking regulator said Thursday in Shanghai.

Currently, there’s a deregulation trend around the world that allows shadow banking to regain momentum, which China should be highly vigilant about, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said at the Lujiazui Forum, an annual gathering of senior financial regulators, experts and market participants.

Besides, Guo said it’s necessary to face up the issue of the financialization of the real estate industry in some regions. In recent years, the leverage ratios of some cities’ household sectors have soared and a large proportion of households have seen their debt ratios grow to “unsustainable levels,” he said.

“Excessive financing in the real estate industry not only takes up much of the credit resources that could have gone to other industries, but also tends to promote property speculation,” Guo said.

Related: Ling Huawei: Baoshang Bank Takeover Sets Precedent, Opens Door to U.S.-Style FDIC

Contact reporter Timmy Shen (hongmingshen@caixin.com)

Share this article
Open WeChat and scan the QR code