China cash crunch not sign of a banking crisis, says large Chinese fund

The Business Times

China's financial system is more "robust" than widely thought and the recent cash crunch does not signal any systemic risk, according to a senior investment executive of one of the largest asset managers in the mainland. Until Beijing pledged last week to ensure adequate funding, borrowing costs in the mainland spiked to record highs and stocks tanked, raising fears of a banking crisis that could compare with the 2008 one in the United States.

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