China bans banks from luring customers with popular Labubu dolls

Regulator asks local banks not to give non-compliant perks amid fierce competition as interest rates fallBusiness live – latest updatesChinese authorities have banned domestic banks from luring customers with gifts including the hugely popular Labubu dolls, amid fierce competition among lenders as interest rates and profit margins decline.The Zhejiang branch of China’s financial regulator, the National Financial Regulatory Administration, has asked local banks to refrain from offering non-compliant perks to attract deposits, Bloomberg News reported. Continue reading...

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