Date
18 October 2017

Shenzhen pulls 5 financing guarantee biz licenses, paper says

The Shenzhen municipal government’s Economy, Trade and Information Commission has terminated the operating licenses of five financing guarantee companies recently, the 21st Century Business Herald reported Tuesday. The move is believed to be in response to a central policy issued late last year to weed out guarantee companies that engage in financing transactions beyond their allowed scope of business, the report said, noting the broader goal of mitigating the risks from shadow banking.

– Contact HKEJ at digest@ejinsight.com

EL/AC/RC

 

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