Guangdong Bureau of State Administration of Foreign Exchange has set up a pilot cross-border transfers of non-performing loans (NPL) program to allow banks, financial institutions and individuals to transfer NPLs through Guangdong Finance Assets Exchange Center. This is the second such pilot program following one set up earlier in Shenzhen. In 2015, under the guidance of China’s State Administration of Foreign Exchange (SAFE), the Shenzhen branch of SAFE was the first in the country to initiate a pilot cross-border NPL …

China Sets Up Second Cross-Border NPL Transfer Pilot Program In Guangzhou City appeared first on China Money Network.


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