CBRC Orders Review of Promissory Note Business
(Beijing) – The China Banking Regulatory Commission (CBRC) has ordered rural commercial banks and credit cooperatives to examine the promissory bank note business they did before May.
The order came as the banking regulator seeks to control risks associated with the rapidly increasing amount of notes.
In the first quarter, the amount of undiscounted notes totaled more than 670 billion yuan, up 189 percent from the same period of last year, data from the central bank shows. That is because some financial institutions have been taking advantage of promissory note regulation to hide loans, a senior official of CBRC said.
- More than 21,000 Couples in Capital Apply to Have Second Baby
- Central Gov't Said to Plan Pilot Reform of Rural Asset Ownership
- Big Umbrella
- Abe Protest
- Lost in Translation
- Graphics: Fully Loaded
- Can Doctors Cut the Public Hospital Cord?
- Local Gov't Criticized for Linking Blood Donations to Middle School Test
- The Week in Photos: September 20 – 26
- Goodbye Lenin
- Sign up to receive our free daily newsletter
- Alibaba's IPO Was Huge, but Analysts Say Investors Have Reasons to Worry
- A Five-Minute History of Hong Kong
- After Overseas Rush, Chinese Firms' Iron Ore Projects Run into Trouble
- Adobe to Shutter China Operations in October, Employees Say
- A Chinese Dream in America
- Graphic: Alibaba's Big Deal
- HK Tycoons Defend Giant Gift to Harvard's Medical School
- Gov't Again Tries Trimming the Fat by Slashing Pay of SOE Executives
- CCTV Airs Program on Conditions for Fallen Officials in Guangdong Prison
- How Chinese Universities Can Learn the Largesse Game