英语文摘:China banking watchdog to tighten monitoring on non-banking financing

BEIJING, March 9 (Xinhua) -- China would step up work to monitor non-banking financing, said the China Banking Regulatory Commission (CBRC) Tuesday in a statement on its web-site.

More focus would be put on businesses in connection with trust companies and the real estate sector to prevent banks from using non-banking financing to circumvent policies, said Liu Mingkang, chairman of the CBRC.

The 2010 government loan target is 7.5 trillion yuan (1.10 trillion U.S. dollars). But in January alone, banks extended 1.39 trillion yuan in new loans -- 18.53 percent of the full-year target.

More work should be done to improve risk management capacity to achieve sustainable development of the non-banking financing sector, Liu said.

Non-banking financial institutions under the CBRC supervision include trust companies, finance companies, financial leasing companies, auto financing companies and money brokers.