The establishment of new private........>

CHINA PRESS: The establishment of new private banks in China has almost stalled

as regulators have raised the bar for approval and the capacity of new

institutions to attract deposits is weak, the 21st Century Business Herald

reported Thursday. Since 2014, 17 private banks have been approved, but they

rely heavily on interbank transactions because their deposit products have

attracted few clients, the report said. Given the on-going government financial

deleveraging campaign, this reliance is not sustainable. Authorities have raised

the registered capital requirement to CNY2 billion and the frequent resignation

of high-ranking executives at the new institutions has also been a heavy blow,

the report noted. (21st Century Business Herald)