Baoshang Bank, HengFeng Bank and the Bank of Jinzhou were linked to fugitive financier Xiao Jianhua. Photo: Reuters
China’s small banks still struggling to obtain funds to lend three months after first bank failure in 20 years
- Baoshang Bank was taken over by the government in May, with HengFeng Bank and the Bank of Jinzhou also since requiring help
- Slowing Chinese economy is putting pressure on the loan portfolios of small banks, many of whose customers have been hit hard by the US-China trade war
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China economy
Baoshang Bank, HengFeng Bank and the Bank of Jinzhou were linked to fugitive financier Xiao Jianhua. Photo: Reuters