Bloomberg on a front-page comment piece in China's (the PBOC's) Financial News today:
- China likely to bring on more deleveraging measures for the financial sector
- Must keep money supply under control
Also from Bloomberg, Christopher Balding, an associate professor of business and economics at the HSBC Business School in Shenzhen, on China Minsheng Banking Corp. and its sale of $436 million in suspect wealth-management products:
- China's regulators need to do more
- Should require improved financial reporting and auditing
- The problem at Minsheng was reportedly only detected when the head office got a phone tip, not through internal mechanisms designed to prevent mismanagement. If that's a problem at Minsheng, which is known for good management and technology, it's a safe bet that other banks are doing worse.
