PBoC tightens bond trading rules, relaxes renminbi controls
China’s financial regulators continue efforts to deleverage economy
China’s financial regulators have stepped up their efforts to curb excessive leverage in the financial system and remove controls on the Chinese currency as the new year begins.
In an announcement published on January 5 in conjunction with China’s other financial regulators, the People’s Bank of China (PBoC) says it has banned financial institutions from engaging in under-the-table transactions for bond trading, a method that previously avoided supervision.
The new rule also marks another co
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