China central bank urges calm after Baoshang takeover

By Andrew Galbraith SHANGHAI (Reuters) - China's central bank sought to calm investors on Sunday after last month's takeover of Inner Mongolia-based Baoshang Bank, saying regulators are not planning any more such moves for the moment. The China Banking and Insurance Regulatory Commission (CBIRC) took control of Baoshang on May 24, rattling Chinese markets and prompting the People's Bank of China (PBOC) to inject cash into the banking system

The post China central bank urges calm after Baoshang takeover appeared first on Firstpost.