More Non-performing Loans Handled in China

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Last updated at: (Beijing Time) Thursday, October 24, 2002

More Non-performing Loans Handled in China

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By the end of September, China's four financial asset management corporations (AMCs) had handled non-performing loans (NPLs) worth 232.3 billion yuan (28.09 billion US dollars), the People's Bank of China (PBC) announced Thursday .

The central bank's statistics show that assets recovered by thefour AMCs stood at 84.6 billion yuan (10.2 billion US dollars), a recovery rate of 36.42 percent. Of this figure, 52.5 billion yuan (6.3 billion US dollars) was in cash, a recovery rate of 22.6 percent.

Of the four AMCs, Huarong handled 44.3 billion yuan (5.3 billion US dollars), recovering 21.4 billion yuan (2.6 billion US dollars), of which 14.6 billion yuan (1.76 billion US dollars) wasin cash; the Greatwall handled 83.8 billion yuan (1.01 billion US dollars), recovering 16 billion yuan (1.93 billion US dollars), ofwhich 7.7 billion yuan was in cash (0.93 billion US dollars), the Oriental handled 34 billion yuan (4.1 billion US dollars), recovering 19.2 billion yuan (2.3 billion US dollars), with 8.6 billion yuan in cash (1.04 billion US dollars); and Xinda handled 70.2 billion yuan (8.46 billion US dollars), recovering 28 billionyuan (3.4 billion US dollars), with 21.6 billion yuan (2.6 billionUS dollars) in cash.

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