China pledges sweeping change in banking to support reform, including possibly private lenders

  • by: JOE McDONALD , AP Business Writer
  • Updated: July 5, 2013 - 6:40 AM

BEIJING — China on Friday promised sweeping changes to its state-run banking system — including allowing the creation of private lenders — to support its credit-starved entrepreneurs and curb what regulators worry are growing financial risks.

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