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China's shadow banking sector expands

FSB ranks it as world's third largest under a new, more targeted definition

Published Fri, Oct 31, 2014 · 09:50 PM
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Beijing

CHINA'S shadow banking sector continued to grow at breakneck speed in 2013 and now ranks as the third largest in the world, a report released by the Financial Stability Board (FSB) showed on Friday.

The FSB's report nevertheless appears to underestimate China's sprawling shadow banking sector, although analysts said that this type of debt is not yet at a level that could threaten the stability of the overall financial system.

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