China Regulator Halts Commercial Bill Trusts, Securities Says
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China’s banking regulator told domestic trust companies to halt the sale of products that invest in commercial bills, the Shanghai Securities News reported today, citing a person it didn’t identify.
The China Banking Regulatory Commission notified trust companies about the suspension by phone yesterday and hasn’t issued a formal notice, the Chinese-language newspaper reported on its website. The practice may be a way of skirting the government’s lending curbs, the report said.