China urges big lenders not to shun small non-banks after Baoshang’s woes
Securities watchdog tells several large financial institutions to lend to smaller firms to help ease cash shortfalls, say sources
17 June 2019 - 20:56
Beijing/Shanghai — China’s securities watchdog has told several large non-bank financial institutions to lend in the interbank market to smaller non-bank firms to help ease any cash shortfalls, sources with direct knowledge of the matter said on Monday.
The moves to head off potential instability among smaller financial institutions comes as Beijing faces pressure to boost bank lending to help cushion the economic effect of the higher tariffs on Chinese imports imposed by the US. ..
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