China’s $8.4tn shadow banking industry has surged back to life this year, as regulators scale back deleveraging in an effort to spur economic growth.
Financial regulators in China have for several years grappled to control the country’s massive shadow lending sector, which includes many forms of off-balance-sheet lending from banks, peer-to-peer lenders and credit extended by asset managers.
The opaque industry has long been associated with financial risks, and became the target of a regulatory crackdown in 2018, part of a central government attempt to maintain financial stability.
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