Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (4156)	1/13/2005 2:11:33 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Chinese Banks Make Progress on Loan Trims By THE ASSOCIATED PRESS Published: January 13, 2005 Filed at 8:00 a.m. ET SHANGHAI, China (AP) -- China's 16 major commercial banks shed bad loans totaling 394.6 billion yuan ($47.8 billion) in 2004, the country's banking regulator reported Thursday. The overall ratio of nonperforming loans to total lending by the banks fell to 13.2 percent by the end of 2004 from 17.8 percent at the beginning of the year, the China Banking Regulatory Commission said in a report posted on its Web site. Advertisement Remaining nonperforming loans by the end of the year totaled 1.72 trillion yuan ($208.2 billion), the commission said. China's major commercial banks include 12 shareholding commercial banks and four state-owned commercial banks: the Industrial & Commercial Bank of China; China Construction Bank; Bank of China and Agricultural Bank of China. Authorities have set up asset management companies to dispose of bad loans and are gradually recapitalizing the banks as they restructure them in preparation for share listings. Experts familiar with the banks say significant progress has been made, but that bad loans continue to accumulate and that the official figures understate the problem. Nonperforming loans at the four big state banks totaled 1.575 trillion yuan ($190.7 billion) by the end of last year, the commission said. That brought the ratio of nonperforming loans to total lending to 15.6 percent, down from 20.4 percent at the beginning of 2004. The nonperforming loan ratio for the 12 shareholding commercial banks, whose accounts are generally in much better shape, fell to 4.9 percent by the end of 2004 from 7.6 percent at the beginning of the year. Separately, the banking regulator said total assets held by Chinese financial institutions grew 13.6 percent last year over 2003 to reach 31.49 trillion yuan ($3.81 trillion) by the year's end. Liabilities totaled 30.23 trillion yuan ($3.66 trillion), it said. nytimes.com