May 26, 2019 / 7:25 AM / 25 days ago

China to offer liquidity to Baoshang Bank

BEIJING, May 26 (Reuters) - China’s central bank said on Sunday that it would offer liquidity to Inner Mongolia-based Baoshang Bank, which the country’s financial regulators have said they would take over due to the serious credit risks it poses.

The People’s Bank of China also said in a statement that it and the China Banking and Insurance Regulatory Commission (CBIRC) would give more policy support to improve small- and mid-sized banks’ corporate governance. (Reporting by Michael Martina and Hou Xiangming Editing by Shri Navaratnam)

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