Biz News Flash

CBRC denies trust rumors

(China Daily)
Updated: 2011-05-18 13:23

The China Banking Regulatory Commission (CBRC), the country's banking regulator, denied a rumor on Tuesday that it had ordered trust companies to stop property trust businesses.

"Our requirements for the trust companies haven't changed," the CBRC said in a message to media on Tuesday.

Previously the watchdog required lenders to strengthen inspection of property trust businesses and monitor possible risks in local financing vehicles. Liu Mingkang, chairman of the CBRC, said the current risk situation is "still grim".