Chinese regulators have told the country’s biggest banks and state-owned firms to start a round of checks on their financial exposure to Chinese conglomerate Fosun International, reports Reuters.
The regulators include the China Banking and Insurance Regulatory Commission (CBIRC), which requested that commercial banks check their exposure to Fosun debt and understand potential liquidity risks, the report said, citing people familiar with the matter.
The regulator’s request does not mean it wants lenders to change their financing toward Fosun, including outstanding loans, the report said.
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