China Jiangsu Halts Government Bond Trading for Some Rural Banks
- Regulator opened probe into bond trading at Jiangsu banks
- Authorities are seeking to cool massive bond market rally
This article is for subscribers only.
China’s Jiangsu Rural Credit Union directed some banks to suspend government bond trading after a market manipulation probe was launched by regulators, according to people familiar with the matter.
The affected rural commercial lenders are still allowed to invest in some interbank certificates of deposit to address any asset shortages, the people said, requesting not to be named discussing private matters. It’s unclear when they will be allowed to resume trading.