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China Banking Regulator Warns On Debt Risks: News

CHINA PRESS

The China Banking and Insurance Regulatory Commission (CBIRC) will improve its systems to resolve bond default risks and strictly forbid debt evasions, the Shanghai Securities News reported citing the agency's annual work meeting. The CBIRC will better regulate private placements to avoid risks such as illegal fund raising and lending, punish malicious behaviors such as fraudulent issuance, financial fraud, and market manipulation. It would also supervise the financial system to close all loopholes, according to the News report.

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