China extends takeover period for 9 financial cos linked to Tomorrow Holdings

China extends takeover period for 9 financial cos linked to Tomorrow Holdings

Shanghai, China. Source: Denys Nevozhai/Unsplash

Chinese regulators said on Friday they would need another year to sort out the restructuring of nine financial firms connected to embattled Tomorrow Holdings, as authorities seek to stem systemic financial risks in the pandemic-hit economy.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter