China’s banking regulator has banned major bad debtors from applying for top jobs at the country’s lenders under new rules governing the appointment and management of bank executives, the Hong Kong Economic Journal reported Thursday, citing a statement on the regulator’s website. Candidates will also be ruled out if their spouses have large overdue loans. In addition, the China Banking Regulatory Commission has barred from the senior posts people with more than 5 percent of a banking institution’s shares and a credit line from the same lender exceeding their net equity value. The rules aim to improve banks’ risk management and corporate governance, it said.
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