A branch of the Jiangnan Rural Commercial Bank in Changzhou, East China’s Jiangsu province, Jan. 24, 2021. Photo: IC Photo
As China attempts to cool the government bond market bull run, regulators have amped up efforts to crack down on financial institutions’ misconduct.
Four rural commercial banks in East China’s Jiangsu province are suspected of manipulating market prices and illegally transferring profits when trading government bonds on the secondary market, according to a notice released Wednesday by the National Association of Financial Market Institutional Investors (NAFMII).
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