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China will crack down on irregularities in banking sector - regulator chief

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China will crack down on irregularities in banking sector - regulator chief

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BEIJING (Reuters) – China will crack down on irregularities in the banking sector and resolutely curb any rise in hidden debt, Guo Shuqing, head of the country’s banking regulator, said on Thursday. China also will strengthen regulatory management for the disposal of non-performing loans, Guo said on the sidelines of the 19th Communist Party Congress. China will resolutely fend off cross-market financial risks while further deepening reforms and opening up the banking sector, he said.

(Reporting by John Ruwitch, Matthew Miller and Zhang Min; Writing by Ryan Woo; Editing by Kim Coghill)
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