CHINA-ECONOMY: MANY CHINESE BANKS ARE IN 'HIGH RISK' CATEGORY
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The 2019 China Financial Stability Report published on November 25 by the People's Bank of China (PBoC) reported that China’s banking sector is showing signs of strain, with more than 13% of 4,379 lenders now considered “high risk”. The high risk category contains 586 banks and financing institutions, most of which are smaller rural enterprises. A first review last year found about 10% were deemed high risk, though that calculation didn’t include many consumer finance firms. No banks were named in the report.
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