Economics
China Asks Banks to Forgo $211 Billion to Help Boost Economy
- Regulators are asking banks to keep profit growth below 10%
- Banking industry growth may drop to zero in 2020: Citigroup
A pedestrian wearing a protective mask uses a smartphone in the Lujiazui Financial District in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
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China is leaning on its massive banks like never before to help bolster an economy facing its worst slump in four decades.