(MENAFN)
The top banking authority in China released a report on Tuesday saying that the shadow banking sector in the country has decline in the last three years as the regulators increased deleveraging to keep the sector from overflowing.
The China Banking and Insurance Regulatory Commission released a statement on its website saying that the shadow banking levels in the country psoted a decline of USD2.26 trillion since the last three years.
The shadow banking is the activities taken by financial companies outside the formal banking sector, and is subjected to less regulatory oversight levels and higher risks.
China has been always wary of the risks of shadow banking and increased efforts to regulate the sector, according to the statement.
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