The China Banking Regulatory Commission (CBRC) has approved the establishment of five local asset management companies in preparation for a surge of bad loans from Chinese banks, according to Chinese media reports. The provinces of Guangdong, Zhejiang, Jiangsu and Anhui, as well as the city of Shanghai are to set up their own local "bad […]
Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.
Visit the original source and full text: China Money Network
Any news and links syndicated from other sources are copyright those respective websites and/or publications. We post brief synopsis and links per what the respective websites' RSS feeds provide.