January 5, 2017 / 11:25 AM / 7 months ago

China's banking regulator to bolster private bank supervision

1 Min Read

BEIJING, Jan 5 (Reuters) - China's banking regulator on Thursday issued guidelines aimed at strengthening governance at the country's emerging private banks, the latest move by regulators to beef up risk management among financial services firms.

The China Banking Regulatory Commission (CBRC) guidelines call for private banks to exercise prudential supervision in such areas as related-party transactions, while clearly defining their business strategy, according to a notice published on the CBRC website.

Reporting by Beijing Monitoring Desk; editing by Susan Thomas

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