{"id":921089,"date":"2026-10-05T04:34:16","date_gmt":"2026-10-05T04:34:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/921089\/"},"modified":"2026-10-05T04:34:16","modified_gmt":"2026-10-05T04:34:16","slug":"china-closes-record-number-of-banks-as-economic-growth-slows","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/921089\/","title":{"rendered":"China closes record number of banks as economic growth slows"},"content":{"rendered":"<p>China closed a record 670 banks last year, or nearly one in four lenders, as Beijing pushes to de-risk amid slowing economic growth. <\/p>\n<p>Nearly all were rural banks, which \u201cremain the <a href=\"https:\/\/www.ft.com\/content\/8a8f5c97-f1d3-4d3d-a3bc-d5a2e5539177?syn-25a6b1a6=1\" class=\"_linkEmbed_1pt7l_31\" rel=\"noopener nofollow\" target=\"_blank\">weakest part of the system<\/a>, with poor asset quality, low capitalization, and governance shortcomings,\u201d Fitch wrote. <\/p>\n<p>After a massive credit expansion drove growth, \u201cthe financial system\u2019s problems <a href=\"https:\/\/www.chinatalk.media\/p\/logan-wright-on-broken-china\" class=\"_linkEmbed_1pt7l_31\" rel=\"noopener nofollow\" target=\"_blank\">now constrain that growth<\/a>,\u201d a Rhodium Group expert told ChinaTalk. <\/p>\n<p>The closures were likely geared toward \u201celiminating the potential for liquidity events among small institutions,\u201d a Singapore-based expert told the Financial Times. <\/p>\n<p>Despite having \u201cwowed the world with its <a href=\"https:\/\/www.economist.com\/leaders\/2026\/10\/01\/chinas-new-infrastructure-push-will-help-itself-and-the-world\" class=\"_linkEmbed_1pt7l_31\" rel=\"noopener nofollow\" target=\"_blank\">electric cars, dancing robots, and choreographed drones<\/a>,\u201d China\u2019s economy has undershot projections, partly due to weak consumption, The Economist wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"China closed a record 670 banks last year, or nearly one in four lenders, as Beijing pushes to&hellip;\n","protected":false},"author":2,"featured_media":921090,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-921089","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/921089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=921089"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/921089\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/921090"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=921089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=921089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=921089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}