China calls for more bank support for autonomous industries and supply chains By Reuters

© Reuters. People walk in the Lujiazui financial district at sunset in Pudong, Shanghai, China on July 13, 2021. Photo taken on July 13, 2021. REUTERS / Aly Song

BEIJING (Reuters) – China’s banking and insurance regulator on Wednesday said lenders should step up support for high-tech manufacturers, autonomous industries and supply chains.

“Banks must resolutely reject the mistaken idea of ​​deviating from their core business (…) and excessive business expansion,” the China Banking and Insurance Regulatory Commission (CBIRC) said in a statement in line.

Banks should strengthen their internal risk controls and correct management weaknesses to grow further, the CBIRC said.

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