China Drafts Updates To Commercial Bank Regulations
PYMNTS
OCTOBER 16, 2020
In May 2019, the government took over Baoshang Bank in the first seizure of its kind in almost 20 years. trillion yuan ($219 billion) in profit by cutting lending rates and deferring loan repayments in an effort to assist firms. They’ve been asked to support the economy at the expense of their own operational strength.” .
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