China to support troubled financial firms, curb property risks

A man selling meat to the customers along a street in China. China’s financial regulator said it will implement a series of measures to shore up the nation’s troubled smaller banks and insurers while continuing a clampdown on shadow financing and property speculation. - Reuters

BEIJING: China’s financial regulator said it will implement a series of measures to shore up the nation’s troubled smaller banks and insurers while continuing a clampdown on shadow financing and property speculation.

The regulator will introduce measures to eliminate bad loans and promote mergers, capital injections and the restructuring of high risk institutions, the China Banking and Insurance Regulatory Commission (CBIRC) said in a statement on Saturday (Jan 4).