China probes exposure of HK units of banks, insurers to local government debt

China probes exposure of HK units of banks, insurers to local government debt

FILE PHOTO: A Chinese national flag flutters outside the China Securities Regulatory Commission (CSRC) building on the Financial Street in Beijing, China July 9, 2021. REUTERS/Tingshu Wang/File Photo

Subscribe to our newsletter

China‘s financial sector regulator is looking into the exposure of the Hong Kong units of domestic banks and insurers to the country’s local government debt, three sources with knowledge of the matter said, as part of its efforts to contain credit risks.