Trade finance in China hit by another $121mln fraud
A huge fraud case reported by China’s Bank of Tianjin under its bill financing business has cast a larger shadow over trade finance governance in the country.
The Bank of Tianjin recently said it had been defrauded out of Rmb786 million ($121 million), the latest in a number of similar cases reported by Chinese banks in the first few months of 2016.
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