According to data from the People’s Bank of China, financial institutions had 102 trillion yuan worth of assets under management at the end of 2016. Should a small percentage of these assets turn sour, it could result in systemic risks. Photo: Bloomberg

Xi Jinping’s war on shadow banking spills over, rocking China’s wider financial world

Companies that had committed to buying overseas assets are now finding it hard to complete the deals amid China’s financial clean-up of its shadow banking activities and banks’ reluctance to extend loans  

Topic |   China economy

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According to data from the People’s Bank of China, financial institutions had 102 trillion yuan worth of assets under management at the end of 2016. Should a small percentage of these assets turn sour, it could result in systemic risks. Photo: Bloomberg
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