November 29, 2019 / 11:14 AM / 17 days ago

China to expand asset-backed securities pilot programme amid push to reduce risks - sources

BEIJING, Nov 29 (Reuters) - China is to expand an asset-backed securities (ABS) pilot programme to more banks as part of a regulatory push to reduce risks for high-risk financial institutions, three source familiar with the matter told Reuters on Friday.

China’s big four state-owned asset management companies, and Standard Chartered Bank are included in the expanded pilot programme, sources said. Standard Chartered and the Chinese companies declined to comment. (Reporting by Cheng Leng, Rong Ma and Tony Munroe; Editing by Alex Richardson)

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