Chinese regulator fines lenders

Two of the major commercial banks in China and six other financial institutions will be fined for lending money used by two state companies to buy stocks and real estate, despite official efforts to step up the regulation of state-owned banks and the enforcement of credit controls.

China's Banking Regulatory Commission has fined two of the country's biggest commercial lenders, Industrial and Commercial Bank of China and the Bank of China, along with six other financial institutions.

The guilty