Chinese banks are at risk from loans to finance agencies

06/14/2010 | Shanghai Daily (China)

China's State Council told local governments to do a better job of managing their finance agencies. After lending hundreds of billions of yuan to these agencies, China's banks will have serious problems if the loans cannot be repaid, said the council, the country's Cabinet. The council instructed banks to allocate loans to specific projects, then keep an eye on how the money is spent.

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Shanghai Daily (China)

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