| 776 cases of banking irregularities discovered Jan-Oct |
| Monday,December 04,2006 Posted: 07:24 BJT(2324 GMT) Xinhua |
BEIJING, Dec. 1 -- The China Banking Regulatory Commission (CBRC) said Friday it has discovered 776 banking crimes in the first ten months, 219 cases fewer than the same period of last year. Another 440 cases were stopped by internal auditing, preventing losses of 1.15 billion yuan (143.75 million U.S. dollars), according to sources with the CBRC. Liu Mingkang, chairman of the CBRC, said 80 percent of the cases involved local branch managers. They colluded with other bank staff and outsiders to take advantage of loopholes in the management system and misusing large amounts of capital. Liu said intensified supervision should be carried out on financial institutions and any banking irregularities should be stopped at the earliest possible stage through internal auditing and the execution of other relevant regulations. In line with its commitment to the World Trade Organization, China will fully open up its banking industry on Dec. 11. |
 | China's Ping An Insurance consolidates banking operations 2007-06-22 06:20 |
| ICBC reclaims banking crown 2007-06-06 07:55 |
| Private banking set to take off in China 2007-06-06 06:10 |
| Time ripe to invest in banking sector 2007-06-04 05:37 |
| Four overseas banks launch Renminbi retail banking services in China 2007-04-24 06:25 |
| Bank of China opens private banking service for millionaires only 2007-03-29 07:04 |
| Opening of banking sector must meet domestic needs 2007-03-23 06:45 |
| Experts Call for More Village Banks to Aid China's Rural Banking Reform 2007-03-13 07:37 |
| New village banks to aid China's rural banking industry 2007-03-02 07:39 |
| China's Banking Industry Assets Total 43.9 tln Yuan 2007-02-14 07:51 |
All articles marked with "Article type: Original" posted on the website of the Ministry of Commerce and its sub-sites are copyrighted by this Website and its sub-sites. Any reproduction or use by any other websites, media or individuals must be attached with a clear indication of "Source: Ministry of Commerce Website".
All articles posted on this website or its sub-sites marked with "Article type: reproduced" or "Article type: translated" and "Article type: redistributed" come from other media, and are provided solely for the user's information, which does not mean this Website or its sub-sites endorse the ideas thereof or assume any legal liability or responsibility for their authenticity. Any other media, websites or individuals must maintain the source of information indication on this Website or its sub-sites when using the information, and shall assume legal liability for the use.
