BEIJING: China’s shadow banking sector continued to grow at breakneck speed last year and now ranks as the third largest in the world, a Financial Stability Board (FSB) report showed yesterday. The report nevertheless appears to underestimate China’s sprawling shadow banking sector, although analysts said it is not yet at a level that could threaten the stability of the overall financial system. The country vaulted ahead in the rankings under a new, more targeted definition of shadow banking adopted by the FSB. Reuters
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