China bank, insurance sectors facing rises in non-performing assets

CHINA’S banking and insurance sectors are facing increasing pressure from rises in non-performing assets, the China Banking and Insurance Regulatory (CBIRC) said today.

Asset quality at some small and medium-sized financial institutions is deteriorating due to the coronavirus pandemic, the regulator said in a statement on its website.

The CBIRC also vowed to strengthen regulation of capital flows and crack down on speculation in the financial sector to prevent asset bubbles. – July 11, 2020, Reuters

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