Currently, while the bill-financing business has created liquidity, the related market has become the breeding ground for violations.

ANBOUND's research team is of the view that this will leave the government with no choice but to impose further regulations on bill-financing, exerting greater impact on the financial market.

The underlying risk of the bank bill is actually a systemic risk which has now become explicit.

Such risk will continue to grow in the future and bring significant constraints to future developments.