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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)