China warns bank execs to check risks or lose jobs

Shanghai

CHINA has warned the nation's top banking executives that they could lose their jobs if they fail to keep risks under control, according to people familiar with the situation.

Shang Fulin, chairman of the China Banking Regulatory Commission, told an internal meeting last month that banks would be forced to restructure, inject new capital or change their senior management if key risk indicators fall outside "reasonable ranges", the people said, requesting anonymity because the contents of the speech weren't made public.