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Chinese regulator may extend grace period of new rules on banks wealth management amid coronavirus outbreak

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The novel coronavirus outbreak that has put China’s economic recovery at risk may prompt the authority to ease a crackdown on the shadow banking sector.

China's financial regulator is expected to extend the grace period for banks struggling to meet a deadline on the new rules on wealth management business by one year to the end of 2021, reported the state-backed China Securities Journal on Thursday, citing sources close to the regulator. The report . . .

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