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CHINA PRESS
CHINA PRESS: Chinese commercial banks must deepen supply-side reform to better
serve quality development of the economy, said Economic Daily in a commentary on
Monday. Banks failed to meet the needs of private and small companies for
financial services, but instead leaned too heavily on local governments,
state-owned enterprises and real estate industry, the newspaper said. Banks give
too much credit to state-backed borrowers and lack the ability to detect risks
of rapidly rising leverage ratios, the newspaper said.