From AFP, via Channelnewsasia.com:
China’s banking regulator has pledged to crack down on scandal-plagued state-controlled banks after a series of graft cases again raised transparency and governance issues, state press said.
China Banking Regulatory Commission (CBRC) vice chairman Tang Shuangning said new inspections of the big four state banks would be carried out this year as efforts are made to overhaul the sector ahead of its opening to international competition at the end of 2006.
The commission also issued a 13-point circular to banks on how to mitigate lending risks and improve management.
