Fosun: Chinese regulator has not asked banks to report exposure -statement


Reuters | Shanghai | Updated: 14-09-2022 08:08 IST | Created: 14-09-2022 08:08 IST
Fosun: Chinese regulator has not asked banks to report exposure -statement
  • Country:
  • China

Fosun International said on Wednesday that media reports saying Chinese regulators have told the country's biggest banks to start a round of checks on their financial exposure to the Chinese conglomerate were false.

Bloomberg reported on Tuesday that regulators including the China Banking and Insurance Regulatory Commission (CBIRC) had requested that commercial banks check their exposure to Fosun's debt and understand potential liquidity risks.

Fosun said in a statement such reports were "sheer nonsense" and that it had sought confirmation from regulators through multiple channels. The CBIRC has not asked banks about their financial exposure to Fosun and many banks that cooperate with Fosun have not received such a notice, the company said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback