November 19, 2018 / 2:16 AM / a month ago

Chinese lenders must support small and private firms - regulator

BEIJING, Nov 19 (Reuters) - China’s financial institutions must support small and private firms, a vice chairman of the country’s banking and insurance regulator said on Monday.

Zhou Liang, vice chairman of China’s Banking and Insurance Regulatory Commission (CBIRC), told a finance forum that authorities will crack down on Ponzi schemes disguised as financial innovations.

Zhou also said China will maintain a prudent stance on monetary policy and ample liquidity. (Reporting by Kevin Yao and Beijing Monitoring Desk Editing by Shri Navaratnam)

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