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China to allow more local bad debt managers: sources
Published Mon, Oct 24, 2016 · 09:50 PM
Beijing
CHINA'S banking regulator plans to allow local governments to set up more asset management companies (AMCs) as part of a broader effort to manage corporate debt and reduce the growing volume of troubled bank loans that pose a risk to the economy.
The China Banking Regulatory Commission (CBRC) is relaxing rules that only allow one local AMC per province, three sources told Reuters.
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