Chinese Regulator Warns of Global Financial Risks – Reuters

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Chinese banks need to be on high alert to international risks, the country’s top banking regulator said in remarks published on Tuesday.

Traditional dealings and long-term corporate investment were being replaced with “high-risk and high-return short-term speculation”, said Liu Mingkang, chairman of the China Banking Regulatory Commission . “The headlong expansion of some sectors of the international markets has already created dangers for global financial and social . The succession of major financial incidents and crises is sending repeated warning signals,” Liu told a banking conference on Monday. [Full Text]

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