A crackdown on China’s $9.4tn shadow banking business is hitting bank share prices and rattling bond markets.
The country’s new top banking regulator has already taken several shots at stemming the rapid growth of off-balance-sheet lending at banks since taking control in February. The central bank has also tightened liquidity in the financial system, sparking angst earlier this year.
A flurry of rules to discourage banks from using borrowed money to invest in bonds have been issued by the regulator. The sell-off that has followed has pushed bond yields to two-year highs and even led to a rarely seen inversion of the yield curve.
您已阅读14%（635字），剩余86%（4036字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。