China shuts hundreds of banks as Beijing moves to shore up its financial system — Live Feedhttps://www.live-feeds.com/feed/china-shuts-hundreds-of-banks-as-beijing-moves-to-shore-up-its-financial-systemContinuously updated, source-cited coverage. China Shuts Hundreds of Banks to Shore Up Financial Systemhttps://www.live-feeds.com/feed/china-shuts-hundreds-of-banks-as-beijing-moves-to-shore-up-its-financial-systemhttps://www.live-feeds.com/feed/china-shuts-hundreds-of-banks-as-beijing-moves-to-shore-up-its-financial-system#u113191Sat, 10 Oct 2026 07:21:16 +0000Beijing closed 670 mainly rural banks to create fewer, larger and better-capitalized lenders. This policy-driven consolidation campaign shuttered a record number of smaller lenders as authorities attempt to contain financial risks, slower economic growth and persistent weakness in key sectors. Rural institutions carry higher bad-loan ratios and weaker profitability than the broader banking sector. The closures reflect a sweeping cleanup targeting vulnerable parts of the country's financial architecture.Why it mattersAuthorities are accelerating the consolidation of smaller and predominant