China mobilizes aid for failing banks as local economies slow

Beijing shifts strategy in bid to quell mounting financial risks

20190821 ASIA-AUTOS/

Newly manufactured cars are seen at the automobile terminal in the port of Dalian in Liaoning. The province's industrial economy has slowed. © Reuters

ISSAKU HARADA, Nikkei staff writer

BEIJING -- China is changing tactics as it intervenes to prevent a string of bank failures amid a slowing economy and growing financial risks.

Bank of Jinzhou, based in the northeastern province of Liaoning, was the latest to receive a state-led rescue last month.

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