Chinese central bank targets 53t yuan shadow loan market
PBOC collecting data to monitor and control emerging risks in murky world of online financing
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Beijing
THE People's Bank of China (PBOC) is expanding the fight to monitor and control risks emerging in the burgeoning market for loosely regulated shadow lending.
The Chinese central bank has started collecting data from the murky world of online financing, in which firms make loans for everything from weddings to mining projects. It's a growing part of a shadow banking market that ballooned 30 per cent last year to 53 trillion yuan (S$11.1 trillion) - four-fifths the size of the economy, Moody's Investors Service data shows.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
