BEIJING — The Chinese government plans to set up a rescue fund for embattled financial institutions, aiming to prevent a financial crisis triggered by the real estate market slump.
Unlike similar funds that were created to protect customers, the purpose of the new fund is to prevent financial institutions from collapsing suddenly, given that such bankruptcies could cause turmoil in the financial market.
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Source Link: https://asia.nikkei.com/Business/Markets/China-debt-crunch/China-to-create-fund-to-rescue-financial-companies
China to create fund to rescue financial companies – Notice Global Online
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