Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, March 20 (Xinhua) — More than 5,600 financial institutions in China have been closed for failing to comply with regulations since 2024, according to official data released Thursday.
According to the State Administration of Financial Regulation, by the end of December 2025, the number of domestic financial institutions in six categories in China had decreased by 26 percent year-on-year, which is 55 percent lower than the historical maximum.
These six categories include microcredit companies, financial guarantee companies, pawnshops, financial leasing companies, commercial factoring companies and local asset management companies.
Since 2024, China has stepped up efforts to target six categories of domestic financial institutions, eliminating institutions that were non-compliant, “uncontactable,” operating as “front companies,” or seriously violating regulations, and cracking down on market violations. -0-
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