China’s banking regulator will tighten oversight of trust companies by changing the license rating system, Securities Times reported Thursday, citing Min Luhao, a deputy inspector of its non-banking department. The new policy will affect 68 incumbent players. They will be rated according to the scope of their business and will be issued a type of license that differentiates them from one another, the report said. They may be classified into three categories in which they will be allowed to offer basic, mature or comprehensive services, the report said, citing sources from an industry conference.
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