China’s $8.4tn shadow banking industry has surged back to life this year, as regulators scale back deleveraging in an effort to spur economic growth.
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China’s shadow banking industry roars back
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Financial regulators in China have for several years grappled to control the country’s massive shadow lending sector, which includes many forms of off-balance-sheet lending from banks, peer-to-peer lenders and credit extended by asset managers. The opaque industry has long been associated with financial risks, and became the target of a regulatory crackdown in 2018, part of a central government attempt to maintain financial stability.
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