China still supportive of commercial bank expansion

China Banking Regulatory Commission announced that it will keep approving domestic lenders' establishment of new branches.

Policies on accepting and reviewing applications for new branches of commercial banks remain unchanged, it said.

However, CBRC said it would be "more prudent" on city banks' inter-regional expansion, according to xinhuanet.

There were media reports suggesting that the commission had unofficially suspended approving city lenders' expansions outside their own markets of origin, after Qilu Bank Co. fell victim to a commercial paper fraud.