Chinese banks to dispose nearly 50% more bad loans this year, regulator to further step up funding support to small firms
STOCKS
Chinese banks to dispose nearly 50% more bad loans this year, regulator to further step up funding support to small firms
STOCKS

Chinese banks to dispose nearly 50% more bad loans this year, regulator to further step up funding support to small firms

 

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China's banking sector will have to dispose 3.4 trillion yuan worth of non-performing loans (NPLs) in 2020, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC), flagging a big risk for the banking system in the world’s second-largest economy.

The amount represents a nearly 50 per cent rise from 2.3 trillion yuan in 2019, shows official data, and the value of bad loans could be even higher in 2021.

Guo said in an interview with the official Xinhua News Agency that the increase in NPLs . . .

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