The village of Wujia Gedu in Inner Mongolia lies 600km west of Beijing. Photo: Orange Wang

China’s Baoshang Bank failure has silver lining in the form of greater focus on rural lending

Baoshang Bank, which is part of Xiao Jianhua’s Tomorrow Group, was taken over by the government in May due to ‘severe credit risks’
Based in Inner Mongolia’s Baotou city, the bank aggressively expanded its lending to rural communities, which are now seeing more lending options open up

Topic | China economy

Orange Wang

Published: 6:00am, 24 Jul, 2019

Updated: 6:15am, 24 Jul, 2019

The village of Wujia Gedu in Inner Mongolia lies 600km west of Beijing. Photo: Orange Wang

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Orange Wang

Orange Wang covers the Chinese macroeconomy, and has many years of experience with China's monetary and fiscal policy moves. He also covered global market and financial news for a long time, with a particular focus on new technologies and their influences on economic growth and society. Before joining the South China Morning Post, Orange worked as a Shanghai Correspondent for ET Net, a Hong Kong financial news agency.