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CHINA: China will further crack down on illicit practices in the banking
industry this year, the China Banking Regulatory Commission said on its website
on Saturday. Regulators will strictly forbid activities that may harm the
economy, such as those against rules on controlling credit and the property
sector, CBRC said. They will also further regulate shadow banking and
cross-market financial products, including negotiable certificates of deposit,
wealth management products, off-balance-sheet businesses, the commission said.