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Authorities in China s Henan province say they will start releasing money to customers who have had their funds frozen by several rural banks, the BBC reported.The announcement came just a day after a rare protest in Henan s capital, Zhengzhou, . ....
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Chinese capital Beijing cracks down on illegal use of loans for real estate 01/30/2021 | 09:50pm EDT Send by mail : Message : Required fields BEIJING, Jan 31 (Reuters) - Financial authorities in the Chinese capital of Beijing will launch a city-wide probe into illegal flows of funds from personal loans into the real estate sector, the official Xinhua new agency reported on Sunday. The Beijing Banking and Insurance Regulatory Bureau has told all banks to conduct compliance checks on all personal consumption loans and business loans given to individuals since the second half of 2020, Xinhua said, citing an official at the bureau. Banks are to immediately rectify any problems uncovered and ....