Tuesday, January 29, 2008

Well, it's official, former PBOC governor Dai Xianglong will end his career as the head of the National Social Security Fund, replacing former minister of finance Xiang Huaicheng. I heard that NSSF backed out of some of its securities positions a couple of months ago. I hope that is indeed true, else Dai will come into a mess. Either way though, I would think that he is quite happy with this assignment. Now we see what Wu Xiaoling gets. I am sure she is far from ready to retire at this point.

http://www.sina.com.cn 2008年01月30日11:38 中国政府网





BEIJING, Feb. 15 (Xinhua) -- Non-performing loans (NPL) among the five major Chinese state-owned banks hit 1.11 trillion yuan (about 155.3 billion U.S. dollars) in 2007, up 35.13 billion yuan from the third quarter.

For the five banks, the NPL ratio hit 8.05 percent, 0.22 percentage points higher than the third quarter, the China Banking Regulatory Commission (CBRC) said here on Friday.

The five lenders refer to the Bank of China, China Construction Bank, the Industrial and Commercial Bank of China, the Agricultural Bank of China and the Bank of Communications.

Analysts explained the NPL rebound in the five banks might result from the sub-prime loan crisis in the United States, especially for the Bank of China and the Industrial and Commercial Bank of China.

The crisis has had little effect on other Chinese banks who have little overseas business.

With outstanding NPL standing at 86.04 billion yuan, 12 Chinese joint-stock commercial banks reported a 2.15 percent ratio of NPL last year, a drop of 0.26 percentage points from the third quarter, the CBRC said.

The NPL ratio of city commercial banks declined to 3.04 percent in 2007 from 3.67 percent in the third quarter.
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