Beijing’s takeover of Baoshang Bank last month has unnerved investors who expect trouble ahead. Photo: Reuters
China’s need for opening up of financial market highlighted by demise of Baoshang Bank
- The Chinese government was forced to step in and hand the control of the small Inner Mongolian bank to the China Construction Bank
- Investors and analysts fear deteriorating health of small banks despite the central bank’s assurance that the failure is an isolated case
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China economy
Beijing’s takeover of Baoshang Bank last month has unnerved investors who expect trouble ahead. Photo: Reuters