China shuts hundreds of banks as Beijing moves to shore up its financial system
Beijing shuttered 670 mainly rural banks last year in a bid to create fewer, larger and better-capitalized lenders.
CNBC reports: Beijing shuttered 670 mainly rural banks last year in a bid to create fewer, larger and better-capitalized lenders.
This business story centres on China.
Why it matters
Moves like this are watched by investors, employers and consumers because of their potential effect on markets and the wider economy.
Key details
- Location
- China · Asia
- Reported by
- CNBC
- First reported
- Key names
- Beijing
- Section
- Business
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at CNBCSpotted an error? Request a correction · How this summary was produced
Related Stories
EU negotiators head to China hoping to curb cheap imports of hybrid electric cars
Mood in trade talks said to have changed as EU member states harden demands for protection against Chinese imports EU trade negotiators are heading…
Djokovic ends trophy drought with victory in China
Novak Djokovic wins the China Open for a seventh time after Alex de Minaur retires in the final in Beijing, as the Serb wins the 102nd title of his…
CNBC's The China Connection newsletter: Starbucks enters Xinjiang in calculated geopolitical risk
Now it is getting headaches over choices made by a partner that leans toward Beijing.
What China's new military foothold in Laos means for Southeast Asia
Analysts see a broader signal: China's growing military presence in mainland Southeast Asia.
US stock market hits all-time high as investors continue to bet on AI
The benchmark S&P 500 is up 14 percent this year despite elevated oil prices and US government debt sell-off.
Incredible or catastrophic? Jaguar unveils its polarising electric car
Two years after JLR relaunched Jaguar into a blizzard of controversy, it has launched its new EV.
David Ellison denies he has ‘politicized’ Skydance despite close Trump links
Ellison admits ‘good relationship’ with administration in remarks to reporters about newly merged media company David Ellison, the chief executive…
Jaguar targets young Americans with Type 01 EV – but it’s too long for UK parking spaces
Latest model is launching in New York to target rich US buyers – and is more than 5.2 metres long and 2 metres wide It has no rear window, will not…