Banks Raise Dams, Fend Off Toxic Debt Crisis

(Beijing) – Figurative dams and diversion canals have been popping up across China's financial landscape as banks scramble to prevent a flood of toxic debt.

So far, creative engineering has helped bankers keep non-performing loans under control. With support from and sometimes in spite of government regulators, banks have effectively managed the financial stress by rolling out a steady stream of debt-management tools since late 2011.