China Merges Hundreds of Rural Banks as Financial Risks Mount [Yahoo! Finance]
AGRICULTURAL B/C UNSP/ADR (ACGBY)
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Source: Yahoo! Finance
(Bloomberg) -- China is embarking on its biggest consolidation in the banking industry by merging hundreds of rural lenders into regional behemoths amid growing signs of financial stress. Most Read from Bloomberg Musk Risks Losing World's Richest Title With Pay Deal Voided Musk Says First Neuralink Patient Received Implant in Brain Tech Giants Slide in Late Trading After Earnings: Markets Wrap UPS CEO Kicks Off Productivity Drive by Cutting 12,000 Managers Traders Line Up for ‘Once-in-a-Generation' Emerging Markets Bet After engineering mergers of rural cooperatives and rural commercial banks in at least seven provinces since 2022, policymakers pinpointed tackling risks at the $6.7 trillion sector as one of its top priorities for this year. That means another wave of consolidation is on the way across the nation. China's banking industry has been weighed down by a litany of troubles over the past years, including a deepening slump in the real estate market and an over
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