A suspect in an illegal banking operation in Guangdong province is pictured with some of the cash seized in a police operation. Photo: Handout

Hundreds arrested in China crackdown on ‘underground banks’

Cash involved in the illegal banking operations busted last year amounted to US$131 billion, amid flow of funds overseas as nation’s currency weakened against the dollar

Topic |   China economy

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A suspect in an illegal banking operation in Guangdong province is pictured with some of the cash seized in a police operation. Photo: Handout
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