Prevent Resurgence Of Risky Shadow Banking - China Regulator

China’s top banking watchdog will work to resolve dangerous local government hidden debt and prevent the resurgence of high-risk shadow banking, according to the Shanghai Securities News. The China Banking and Insurance Regulatory Commission (CBIRC) said it would proactively address the risk of deteriorating quality credit assets, and encourage banking institutions to increase the disposal of non-performing assets. The CBIRC also noted at a recent meeting that expanding consumption is a priority, with a focus on service industries and small enterprises, which have been affected by the epidemic. The meeting, which committed to implementing the policies and guidance from the Central Economic Work Conference, was chaired by Guo Shuqing, secretary of the party committee and chairman of the CBIRC.