Chinese banks fail tests as PBoC warns of ‘grey rhino’ risks

The PBoC

Several major banks fell short of the People’s Bank of China’s expectations in a recent stress test, the central bank warns in a recent report.

In a statement accompanying the financial stability report, the PBoC says there are increasing risks globally, particularly due to trade tensions “provoked by the United States”. It also highlights domestic uncertainties due to the transition underway in the economy.

The Chinese authorities are currently trying to balance a move towards “high-quality

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