24 June 2013 Last updated at 22:34 ET
China's government is trying to end the era of cheap money and impose more discipline on its banks
Chinese stocks have fallen further amid continued concern over the impact of a credit tightening on its economy.
The Shanghai Composite SSE index fell 1.2% to 1,936.79 points, entering the bear market territory, often described as a 20% dip from the recent peak.
The index has dipped 20% since its high of 2,444.80 points in February.
The concern came after the central bank indicated its credit-tightening policy would continue, saying that the era of cheap cash was over.
A government-led credit boom has been one of the key contributors to China's economic growth in recent years.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23041912#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
