Caixin
Jul 22, 2022 04:40 AM
FINANCE

China Banking Regulator Pushes Smaller Banks to Dispose of Bad Loans

As of the end of the second quarter, overall outstanding nonperforming loans in China’s commercial banking sector stood at 2.95 trillion yuan.
As of the end of the second quarter, overall outstanding nonperforming loans in China’s commercial banking sector stood at 2.95 trillion yuan.

China’s banking regulator said it’s continuing to assess the risks of small and medium-sized banks and is vigorously promoting the disposal of nonperforming assets.

China’s small and medium-sized lenders disposed of 594.5 billion yuan ($87.9 billion) of bad loans in the first six months, an increase of 118.4 billion yuan from a year earlier, China Banking and Insurance Regulatory Commission (CBIRC) spokesperson Qi Xiang told a news conference Thursday.

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