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Strategies & Market Trends : HONG KONG

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To: MikeM54321 who wrote (1689)	5/25/1998 8:35:00 PM
From: MikeM54321	Read Replies (1) of 2951

Here's some interesting facts concerning China's internal(I think?) debt problems. The figures are astronomical. At first glance, you would say, this has to be devastating news. But, in this case, it may not be all that bad? I can't quite figure it out. But my guess is that these bad, "loans," are more comparable to a social welfare program in the United States. If someone can help clarify this, it would be greatly appreciated. MikeM(From Florida) This is from the South China Morning Post: >>China's non-performing loans were about US$200 billion last year, according to Standard & Poor's S&P). That was about 25 per cent of the total outstanding loans of the banking system, and 25 per cent of the country's gross domestic product in 1996. The non-performing loan ratio was confirmed later by People's Bank of China (PBOC) governor Dai Xianglong. The bank said the level of irrecoverable loans was 5-7 per cent. The S&P figure may have underestimated the problem; some suggest the non-performing loans ratio could be as high as 40 per cent.<<

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