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Banking regulator in China's capital of Beijing has launched a city-wide probe into illegal issuance of personal loans and business loans into the real estate sector amid growing concerns as the housing market heats up.
The Beijing branch of the China Banking and Insurance Regulatory Commission told commercial banks in the city to conduct a comprehensive examination into personal and business loans issued since the second half of last year.
They must “immediately rectify problems found and strengthen internal accountability”, according to a report by state news agency Xinhua, which cited an unnamed . . .
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