News Column

China : China's shadow banking growth at record high

June 9, 2014

CHINA's shadow banking system has grown to a record high despite government efforts to the contrary, said a Deloitte report.

"It appears that, despite government efforts to the contrary, credit in the non-bank shadow banking system continues to rise rapidly," Deloitte said on Monday in a near-term outlook piece on the region .

The government reports that, in the first quarter, trust company assets were up 8 percent from a year earlier, it said.

The country's trust companies now have assets of 11.7 trillion Chinese yuan, or US$1.9 trillion - a record high.

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Source: TendersInfo (India)