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

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