China will delay the implementation of strict new capital rules for its banks until next year, addressing concerns that a rush to enforce the regulations would crimp lending and weigh on the slowing economy.
Beijing had planned to introduce the bank capital standards, putting China under the global Basel III regime, at the start of this year, a year ahead of the phase-in period stipulated in the Basel agreement.
By moving the start date to January 1 2013, Beijing confirmed that those original plans were too ambitious. The new timeline brings China in line with other countries.
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