China bans loans to speculate in commodities, some luxury goods


BEIJING: China will strictly prevent bank and insurance funds from being used in speculating commodities in a push to maintain market order and stabilize prices.

Bank loans used to speculate in certain high-end consumer goods such as Moutai liquor and pu’er tea are also being banned to check "the disorderly expansion of capital”, China Banking and Insurance Regulatory Commission said in a statement Tuesday.

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nsurance funds , speculating , commodities

   

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