Baoshang Bank is now under the control of the China Construction Bank. Photo: Reuters

China’s troubled banks ‘engaged in blind expansion’ but financial stability remains solid, says central bank chief

  • People’s Bank of China governor Yi Gang addressed plans for bailing out regional banks for the first time after three crisis in the last five months
  • Problems at Baoshang Bank, Jinzhou Bank and Hengfeng Bank renewed concerns about the financial health of Chinese small banks
Topic |   China economy

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Baoshang Bank is now under the control of the China Construction Bank. Photo: Reuters
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Amanda Lee

Amanda Lee

Beijing-based correspondent Amanda Lee covers markets and the economy for the Post, with an interest in China's economic and social landscape. A graduate of the London School of Economics, she joined the Post in 2017 and has previously worked for Thomson Reuters and Forbes.

Frank Tang

Frank Tang

Frank Tang joined the SCMP in 2016 after a decade of China economy coverage and government policy analysis.