New bank rules coming on schedule in China

11/20/2012 | China Daily (Beijing)

Tougher capital requirements for banks will be introduced on schedule in China, which doesn't plan to follow other countries in delaying implementation, said Wang Zhaoxing, vice chairman of the China Banking Regulatory Commission. "China has promised to anticipate the establishment of the global financial supervision system and adopt the international standards. ... It will be a Chinese version of capital criteria, tailored to suit Chinese banks' balance sheets, risk and business models," Wang said.

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China Daily (Beijing)

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