The management of Baoshang Bank, based in Inner Mongolia’s Baotou city, was taken over by the People’s Bank of China and the China Banking and Insurance Regulatory Commission (CBIRC) with immediate effect for a year to contain its credit risk, according to a May 24th statement by the two regulators. Photo: SCMP Handout

China’s regulators put city-level banks and rural lenders on notice after the first state takeover of a private bank since 1998

  • Baoshang Bank’s case reflects credit risks hidden in China’s small and medium lenders and more of these issues will surface as regulations are tightened
Topic |   Banking & Finance

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The management of Baoshang Bank, based in Inner Mongolia’s Baotou city, was taken over by the People’s Bank of China and the China Banking and Insurance Regulatory Commission (CBIRC) with immediate effect for a year to contain its credit risk, according to a May 24th statement by the two regulators. Photo: SCMP Handout
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