China had 4,261 banks at the end of 2015, according to the latest data from the banking regulator, but only 17 are regarded as systemically important institutions. Photo: Reuters China had 4,261 banks at the end of 2015, according to the latest data from the banking regulator, but only 17 are regarded as systemically important institutions. Photo: Reuters
China had 4,261 banks at the end of 2015, according to the latest data from the banking regulator, but only 17 are regarded as systemically important institutions. Photo: Reuters

Many financial institutions should go bust, China central bank researcher says

Xu Zhong, chief analyst at People’s Bank of China, says lenders are being kept wrongly afloat because certain authorities ‘don’t want to open the jar’

China had 4,261 banks at the end of 2015, according to the latest data from the banking regulator, but only 17 are regarded as systemically important institutions. Photo: Reuters China had 4,261 banks at the end of 2015, according to the latest data from the banking regulator, but only 17 are regarded as systemically important institutions. Photo: Reuters
China had 4,261 banks at the end of 2015, according to the latest data from the banking regulator, but only 17 are regarded as systemically important institutions. Photo: Reuters
READ FULL ARTICLE