Financial China

China Development Bank changes its spots

  • Published 12 Aug 2010

Intriguing new licenses for China Development Bank, the country's biggest policy lender, are raising the possibility of a new phase in financial reform.

China's banking regulators have long been wary of allowing commercial banks get into non-core banking businesses. These concerns appear amply justified in light of the recent co-operation between banks and trust companies that has resulted in an estimated Rmb 2,000bn ($295.2bn, €227.7bn, £188.2bn) in outstanding off-balance sheet loans. They also seem wise in the aftermath of the US sub-prime crisis.

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