China’s government has introduced new rules to crackdown on the country’s shadowy underground lending sector. Photo: Bloomberg

China criminalises loans with annual interest rates above 36 per cent in crackdown on private lending

  • China’s Supreme Court and police authority issue joint ruling that criminalises any lending rates higher than 36 per cent per year
  • The new ruling, which came into effect on Monday, could deal a heavy blow to China’s underground banking system
Topic |   China economy

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China’s government has introduced new rules to crackdown on the country’s shadowy underground lending sector. Photo: Bloomberg
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Once a poster child for China’s regional banks, Bank of Jinzhou became the centre of storm in the country’s banking industry. Photo: Baidu

Saga of China’s Bank of Jinzhou raises questions about the health of Chinese banking sector

  • China’s troubled Bank of Jinzhou is seeking to raise 6.2 billion yuan (US$866 million) just two months after it secured a 3 billion yuan (US$419 million) bailout
  • Problems at the company cast a spotlight on the risks facing regional lenders in China’s banking sector
Topic |   China economy

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Once a poster child for China’s regional banks, Bank of Jinzhou became the centre of storm in the country’s banking industry. Photo: Baidu
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