Bank regulator warns private lending risks
Updated: 2011-07-21 16:08
By Ben Yue (chinadaily.com.cn)
Liu Mingkang, the chairman of the China Banking Regulatory Commission (CBRC), urged all financial institutions of the banking industry to strengthen risk management and prevent and control platform lending risks, the People's Daily reported on Thursday.
Liu said banks should normalize their personal financial services and keep an eye on risks in fields of private lending, online lending and small-amount lenders.
Liu also demanded China's banking system to ensure property developers are closely examined. Companies involved in business such as agriculture, technology innovation, environment protection, and especially small and medium enterprises, should get more financial support.
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