China’s top banking regulator warns of bad debt, Ponzi schemes


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SHANGHAI — China’s top banking and insurance regulator Guo Shuqing said banks should actively guard against the rebound in non-performing loans.

Investors should also be aware of potential investment losses on financial derivative products, and rising Ponzi schemes, Guo told a financial forum in Shanghai via a video message.

The regulator will also resolutely clean up illegal security issuance activities and fend off the pick-up in shadow banking activities, Guo added. (Reporting by Andrew Galbraith in Shanghai; Writing by Cheng Leng in Beijing; Editing by Jacqueline Wong)