Lawyers urge CBRC to not curtail shadow banking

Author: | Published: 26 Oct 2011

China’s lawyers have called for the country’s regulators to liberalise its shadow banking system.

The China Banking Regulatory Commission (CBRC) last week announced plans to crack down on shadow banking and private lending in the country.

The move is a bid to control the risk of so-called hot lending in China’s financial system. It follows news of a severe debt crisis in the eastern city of Wenzhou, where earlier this month at least 80 business people were reported to have disappeared, committed suicide or declared bankrupt...