China markets will cope with higher risks: fund execs

Asset managers are not expecting China’s central bank to increase liquidity in markets any time soon, as regulators apply pressure to the country’s shadow banking system. The Shanghai interbank offered rate (Shibor) – the rate at which banks offer loans and China’s equivalent of Libor – hit a record high of 13% on Monday, and the People’s Bank of China has given no indication it will cut rates in the near future, say fund executives. The PBoC’s crackdown comes amid concerns that…