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China to expand asset-backed securities pilot scheme to reduce financial risks

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Chinese authorities plan to expand an asset-backed securities (ABS) pilot program to more financial institutions in a move to reduce financial risks.

China's top financial regulators including the People's Bank of China (PBOC) recently held a meeting with major financial institutions about the expansion plan, first reported by The 21st Century Business Herald and confirmed by Yuan Talks with industry insiders.

The pilot scheme, which was officially launched in February 2016, allows . . .

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