As Beijing Focuses On Risk, Banks Fix Bad Loans the Old-Fashioned Way

While senior Chinese leaders have warned for years of the risk accumulating in the financial system, in 2017 Beijing finally made meaningful progress toward paring it back. Most of the attention has focused on the central bank’s deft use of monetary policy to rein in interbank lending, which shrank for the first time since 2010, and to how producer price inflation helped …

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