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CBRC warns against shadow finance

China's banking regulator, in a move to curb opaque shadow financing, told the nation's city banks to learn the lesson of the global financial crisis and get back to their traditional business. "City commercial banks should stop allocating more funds into investing than lending as soon as possible. They are developing their off-balance-sheet businesses too fast," Shang Fulin, chairman of the China Banking Regulatory Commission, said in a transcript posted on the agency's website.