China’s banking watchdog may give some large lenders even more time to comply with sweeping new regulations for the asset management sector after they complained of difficulties meeting the end-2020 deadline set almost two years ago.
Speculation that the target date would be extended for a second time has increased over the past few months and was further fueled in December after analysts at Zhongtai Securities, a Shandong province-based brokerage that offers asset and wealth management services, sent a message to clients that the deadline for compliance would be extended for three years to the end of 2023.
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