China's financial regulator said that it will step up efforts to restructure the country’s banking system and root out unfit shareholders, as smaller lenders struggle in the aftermath of the coronavirus outbreak.
The announcement on Wednesday came just days after one bank revealed plans to recapitalise in a state-brokered bailout after its shares collapsed.
China’s small and medium-sized banks have struggled with high levels of bad debt for years. But the economic shock from the spread of Covid-19 could worsen credit quality problems as borrowers fail to pay back loans.
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