Domestic lenders were this month given permission to sell subordinated debt to local investors for the first time, the banking regulator said on Dec. 9.
China's US$512 billion stock markets, regulated by the China Securities Regulatory Commission, have been hampered in attempts to open to overseas investment by concerns about price manipulation, broker corruption and corporate accounting fraud.
One in 10 public companies in a Shanghai stock exchange survey last year was found to have cooked their books.
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