A regulatory storm hits China
An unprecedented “regulation storm” is sweeping through China – a country-wide shake-up to pull back the financial industry from shadow banking and excessive credit growth.
China’s credit growth has accelerated since 2008 and it has become a top concern in recent years. Although the government has made numerous efforts to tackle the problem, the tightening measures in the past few months comprise the most intensive and comprehensive push to date.
From Chinese president Xi Jinping to local
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