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China steps up oversight of commercial banks



BEIJING : China's banking and insurance regulator on Friday released measures to step up oversight of commercial bank business that is not included on balance sheets.

Commercial banks shall not carry out business that is off the balance sheet and does not match banks' development, business scale and risk-management capability, the China Banking and Insurance Regulatory Commission said in a statement on its website, as part of efforts to prevent financial risks.

Source: Reuters

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