China’s shadow banking sector was estimated to be worth about 84.8 trillion yuan (US$12.9 trillion) in 2019. Photo: Reuters
China estimates shadow banking worth US$12.9 trillion as it moves to clean up high-risk sector
- Chinese regulators say shadow banking sector equivalent to 86 per cent of gross domestic product in 2019
- Industry must be ‘constantly dismantled’ as part of China’s financial de-risking campaign, authorities say
