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Fosun: Chinese regulator has not asked banks to report exposure -statement

Fosun: Chinese regulator has not asked banks to report exposure -statement

Reuters · 09/13/2022 22:23
Fosun: Chinese regulator has asked banks to report exposure -statement

- Fosun International 0656.HK said on Wednesday that media reports saying Chinese regulators have told the country's biggest banks to start a round of checks on their financial exposure to the Chinese conglomerate were false.

Bloomberg reported on Tuesday that regulators including the China Banking and Insurance Regulatory Commission (CBIRC) had requested that commercial banks check their exposure to Fosun's debt and understand potential liquidity risks.

Fosun said in a statement such reports were "sheer " and that it had sought confirmation from regulators through multiple channels. The CBIRC has asked banks about their financial exposure to Fosun and many banks that cooperate with Fosun have received such a , the company said.


(Reporting by Xu Kaiwen and Brenda Goh; Editing by Christian Schmollinger)

((brenda.goh@thomsonreuters.com; +86 (0) 21 2083 0088; Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.))