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This is an archive article published on April 17, 1999

China develops software to curb lending risks

BEIJING, April 16: China's central bank has developed computer software to help curb lending risks, the official Financial News reported ...

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BEIJING, April 16: China8217;s central bank has developed computer software to help curb lending risks, the official Financial News reported on Friday.

quot;The system has started taking effect in limiting lending risks and enhancing financial supervision,quot; the newspaper said, quoting Shang Fulin, deputy governor of the People8217;s Bank of China, as saying.

He urged commercial banks to use the software, designed to monitor loans, letter of credits, acceptance bills and other instruments, the newspaper said.

The software could also help banks get information on borrowers8217; credit records, assets and previous share and bond issues, it said.

China, alarmed by the Asian economic crisis, has moved to strengthen the central bank8217;s supervisory ability and instructed commercial banks to boost internal controls.

 

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