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China targets 38 bank shareholders in industry fraud crackdown

Investors accused of improper lending and fund diversion as loan books weaken

A branch of the bailed-out Baoshang Bank in Beijing.   © Reuters

HONG KONG -- Chinese regulators have singled out 38 bank shareholders alleged to have been involved in related-party lending and other misdeeds, a sign of the authorities' rising concerns as loan books sour.

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