Published: 8:48am, 2 Feb, 2016 Updated: 2:54pm, 20 Jul, 2018
Tightening regulation and an increasing number of criminal investigations into Chinese banks , and particularly their bill - financing businesses , could reduce confidence in money markets and trigger a panic in financial markets , according to reports . This follows the emergence of a RMB 969 m ( $ 147 m ) fraud reported at China Citic Bank , and a similar fraud reported by the Bank of China last year , in which its branches illegally sold RMB 3.9bn ( $ 590 m ) .