Beijing, which has already raised 64.6 billion yuan, or $9.7 billion, aims to put together around $100 billion by September. Photo: Reuters.
China is putting together a new financial stability security fund that could run into tens of billions of dollars to mitigate risks amid a slowdown that poses a serious threat to the Chinese financial system, Nikkei Asia reported.
Banks and financial institutions such as payment processors are expected to contribute to the government-controlled fund, the report said, adding that Beijing, which has already raised 64.6 billion yuan, or $9.7 billion, aims to put together around $100 billion by September.
Read the full report: Nikkei Asia.
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