Before private investors enter the Chinese banking sector, preparation and ‘major measures’ are required according to Yan Qingmin, assistant chairman of the China Banking Regulatory Commission (CBRC).
While no specific details have been revealed on requirements for investors, Qingmin highlighted certain aspects at a forum on Monday. His main targets were contingency planning and avoiding calling on taxpayers to overcome any financial losses.
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Qingmin said: "Shareholders should cover the risks and receive supervision from authorities, while licenses with restrictions should be issued and a contingency plan will be essential to avoid problems"
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