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The China Banking Regulatory Commission has...>

CHINA
CHINA: The China Banking Regulatory Commission has strengthened its inspection
and punishment of banks' illegal businesses, which could trigger potential
financial risks including credit risk, interbank overlapping operations risk and
bubbles in the property sector, Xiao Yuanqi, head of the CBRC's prudential
regulation bureau, said Friday at a press conference. A total of 1,171 banks
received fines worth CNY18.51 million from January to June for such violations,
Xiao noted. In the first eight months of the year, Chinese banks managed to
retire CNY631.9 billion in non-performing loans, higher than that in the same
period last year, Xiao said. The People's Bank of China and the CBRC are now
inspecting property purchases and investments made via consumer loan, Xiao said.
The CBRC will continue to regulate fund-raising by local governments and focus
on eliminating "invisible debt," Xiao noted.
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