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Two Chinese banks get provisional OK to enter bankruptcy proceedings

Reuters ECONOMY
Published August 26,2022
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China's banking and insurance regulator has agreed in principal to allow two rural banks in Liaoning Province to enter bankruptcy proceedings, according to an official statement released on Friday.

The two banks are Liaoyang Rural Commercial Bank Co., Ltd and Liaoning Taizihe Village Bank Co., Ltd, the China Banking and Insurance Regulatory Commission said.