In brief

  • China closed a record 670 banks in one year, almost all of them rural.

  • Bad loans at rural banks rose to 2.8%, nearly double the sector average.

  • Fitch sees little risk of contagion, but a city bank failed in July.

Read the original story, “China Shuts Hundreds of Banks: Should Bitcoin Investors Be Worried?” by Lockridge Okoth: nl.beincrypto.com

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