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China's stock crash spurs shakeout in shadow banks

Loans for equities plunge after a ban on lenders to fund stock buying

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WINDING UP: A lender to companies and individuals in Jiangsu says it is liquidating assets because borrowers can't repay loans and investors are demanding their money back.

Hong Kong

CHINA has been struggling to tame its shadow banks for years. Now, a stock-market crash has hamstrung some of the fastest-growing ones in a matter of weeks.

Loans from sources such as online lenders for equity purchases have plunged by at least 700 billion yuan (S$156