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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Governor of the People's Bank of China (PBOC) Yi Gang poured cold water on prospects of an imminent launch of Beijing’s own digital currency. Photo: REUTERS

China has ‘no timetable’ for launch of its digital currency, says central bank governor

  • People’s Bank of China head Yi Gang says a series of regulatory issues need to be addressed before Beijing can issue sovereign digital currency
  • China is the first major economy to explore launching its own digital currency
Topic |   China economy

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Governor of the People's Bank of China (PBOC) Yi Gang poured cold water on prospects of an imminent launch of Beijing’s own digital currency. Photo: REUTERS
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