Report Sounds Alarm Over Big Groups’ Loan Habits – Hu Runfeng

From Caijing.com.cn:

The People’s Bank of China ‘s Shanghai branch has warned commercial bank lenders about the risks involved in extending credit lines to octopus-like company groups.

In a first-of-its-kind report released July 31, the central bank cited two examples of credit abuse by unnamed groups, although Caijing has learned that the questionable borrowers were China Pacific Construction Group and Heibei Baoshuo Co. Ltd. The central bank’s Regional Financial Stability Report said sheer size enables a group to exert significant influence over a local economy, industry development and tax revenues. As a result, banks tend to vie for group business. [Full Text]

SUPPORT CDT

Tweets

Google Ads 1

CDT EBOOKS

Giving Assistant

Amazon Smile

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.