December 22, 2017 / 11:02 AM / a year ago

China regulator warns of risks in business between banks, trust firms

BEIJING, Dec 22 (Reuters) - China’s banking regulator warned on Friday that some “risks and hidden dangers” exist in the rapid growth of business between commercial banks and trust firms.

In a statement on its website, China’s Banking Regulatory Commission (CBRC) said commercial banks are not allowed to use trust channels to cover risks.

The regulator also banned trust funds from being invested in property market, local government financing vehicles and stock market. (Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk)

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