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
Topic |   China economy

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Baoshang Bank, HengFeng Bank and the Bank of Jinzhou were linked to fugitive financier Xiao Jianhua. Photo: Reuters
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Orange Wang

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.