19 August 2019

Shanghai trust firm financing platform reined in, report says

The Shanghai Bureau of the China Banking Regulatory Commission (CBRC) has stipulated that the 2014 financing volume of the credit platform set up by the government and trust companies in Shanghai should not exceed last year’s total, news website reported Thursday. It marked the first time the regulator has not allowed any growth in financing on the platform, which an executive at a Shanghai trust firm has described as strict, the report said. 

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