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China tightens regulations on ownership of unlisted banks

China has tightened ownership regulations of unlisted commercial banks, as regulators steps up a crackdown on financial risk following the recent state takeover of a regional lender that has caused major ripples in the nation’s financial markets.

Revised guidelines posted on Tuesday by the China Banking and Insurance Regulatory Commission (CBIRC) on its website require unlisted commercial banks to register their stakeholders with qualified custodians by end-June 2020 . . .

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