Restricting high-risk lending, China disposes of $289 billion of bad loans in 2019
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The China Banking and Insurance Regulatory Commission (CBIRC) has said that they have disposed of around $289.11 billion in non-performing loans over the last year to restrict high-risk lending. CBIRC also said that the total assets of the country’s shadow banking sector had fallen by 16 trillion yuan over the past 3 years and in 2020 they will completely dismantle the shadow banking sector in the country.