CBRC fines show errant lenders to face tighter controls from now
China Daily | Updated: 2018-01-29 08:06
Hard stance a continuation of measures that helped financial clean-up in 2017
XINHUA - China's top banking regulator has proved with actions that oversight in the banking sector will be tightened and regulatory standards will become stricter.
The China Banking Regulatory Commission has fined the Chengdu branch of Shanghai Pudong Development Bank 462 million yuan ($72.2 million) for illegally covering up bad loans.
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