We expect worse news on chinese banking system. The Main reasons is China has give foreign banks right to sale mutual fund in China. To boster their mutual fund sales in China, this is just a start of their marketing strategy aiming to destroy the reputation of Chinese banks, so chinese people will put money in foreign banks and shift to buy foreign mutual fund, drain China's capital and control chinese companies in China's own soil.

China's banking system is fine, in great shape. The central government has 100% control over bad things. But the foreign banks are private, no reputation and credit. If you look at bank of america, you know it is a joke.