15 February 2019

Shadow banking worth 20.5 trn yuan at end-2012, paper says

The Chinese Academy of Social Sciences (CASS) has called for the regulatory authorities to improve controls on shadow banking in China, saying that the size of the sector may have grown to as much as 20.5 trillion yuan (US$3.349 trillion) as of the end of 2012, China Business News reported Wednesday, citing a CASS report published on Tuesday. That estimated total is equivalent to 40 percent of China’s gross domestic product and 16 percent of the total assets of the entire banking industry. The CASS report also called for stronger information disclosure requirements for shadow banking products, greater transparency and rules to minimize fraudulent information given to investors.

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