Yi Gang, governor of the PBOC, says a ‘firewall’ must be set up between the treasury and the central bank. Photo: Bloomberg Yi Gang, governor of the PBOC, says a ‘firewall’ must be set up between the treasury and the central bank. Photo: Bloomberg
Yi Gang, governor of the PBOC, says a ‘firewall’ must be set up between the treasury and the central bank. Photo: Bloomberg
Central Banks
Economy /  China Economy

China’s central bank governor tells local governments, lenders: don’t count on a bail out

  • Yi Gang, governor of the People’s Bank of China, says the central bank cannot guarantee to bail out local governments or lenders
  • The bank must maintain a ‘firewall’ with its federal treasury and ‘must not assume corporate credit risk’, Yi wrote

Topic |   Central Banks
Frank Tang
Frank Tang in Beijing

Updated: 10:40pm, 3 Dec, 2020

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Yi Gang, governor of the PBOC, says a ‘firewall’ must be set up between the treasury and the central bank. Photo: Bloomberg Yi Gang, governor of the PBOC, says a ‘firewall’ must be set up between the treasury and the central bank. Photo: Bloomberg
Yi Gang, governor of the PBOC, says a ‘firewall’ must be set up between the treasury and the central bank. Photo: Bloomberg
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