Source:
https://scmp.com/business/banking-finance/article/1129005/mainland-banks-face-mounting-loan-dangers
Business/ Banking & Finance

Mainland banks face mounting loan dangers

Regulator orders tighter control of wealth management products and seeks to stop contagion from underground financing

The mainland banking sector is said to be facing increasing risks from problematic loans and off-balance-sheet businesses, leaving regulators a daunting task in the future.

The top priority of the China Banking Regulatory Commission (CBRC) this year is to prevent "systematic risk" and "regional risk", the regulator said at its annual work meeting on Monday.