China has started to soft-pedal on tough new capital rules for its banks, watering down the requirements and giving them longer grace periods to adjust.
The mild relaxation has come in part as a response to concerns that the banking system, still suffering from the effects of its 2009-10 credit boom, might be called on again to pump up the economy if the European debt crisis blows up.
The China Banking Regulatory Commission (CBRC) has not formally announced a change in its stance, but official media have reported a series of tweaks in recent days and analysts say they have detected a shift in its focus.
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