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China weighs raising billions for new fund to rescue troubled financial firms The People's Bank of China is leading the…
China weighs raising billions for new fund to rescue troubled financial firms
The People's Bank of China is leading the effort, seeking to shore up confidence in the US$60 trillion financial system as the economy slows and a debt crisis in the property industry spreads. China is moving to stem financial risks ranging from hundreds of weak rural banks to dozens of distressed developers saddled with at least US$1 trillion of liabilities.
