July 11, 2020 / 6:39 AM / a month ago

China's bank and insurance sectors facing rises in non-performing assets -regulator

BEIJING, July 11 (Reuters) - China’s banking and insurance sectors are facing increasing pressure from rises in non-performing assets, the China Banking and Insurance Regulatory (CBIRC) said on Saturday.

Asset quality at some small and medium-sized financial institutions is deteriorating due to the coronavirus pandemic, the regulator said in a statement on its website.

The CBIRC also vowed to strengthen regulation of capital flows and crack down on speculation in the financial sector to prevent asset bubbles. (Reporting by Lusha Zhang and Ryan Woo; Editing by Edwina Gibbs)

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