China worried about bubbles in Western markets, to given fintech companies two years to meet capital requirements - CBIRC chairman

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China is “worried” that bubbles in US and European financial markets could burst as their economies are still struggling under the weight of the coronavirus pandemic, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission.

The rallies in those markets are heading in the opposite direction of their underlying economies and will have to face corrections “sooner or later,” Guo said at a briefing on Tuesday. “If the financial market diverges too much from the real economy, there will be problems. The market would be forced to adjust sooner or later."

Guo . . .

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