China's Non-performing Loans Fall

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Last updated at: (Beijing Time) Monday, October 07, 2002

China's Non-performing Loans Fall

The ratio of non-performing loans (NPLs) at China's four state-owned commercial banks fell 2.65 percentage points in the first half of 2002.

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The ratio of non-performing loans (NPLs) at China's four state-owned commercial banks fell 2.65 percentage points in the first half of 2002.

The Beijing-based China Daily reported that the banks, Industrial and Commercial Bank of China, Bank of China, China Construction Bank, and Agricultural Bank of China, cut the value of their NPLs by 59.7 billion yuan (7.2 billion US dollars) during the January-June period.

The four state-owned banks have deepened reforms and strengthened marketing and sales, the English-language newspaper quoted a report from the People's Bank of China as saying.

Their loan growth has accelerated while NPLs declined, the paper said.

A relatively higher ratio of non-performing loans deposited in China's state-owned banks has always been a deep concern of the central government.

To some degree, China sometimes has to readjust its pace of economic reform, for example the state-owned enterprises' restructuring, in accordance with how fast the banking reform has run.

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