Banking clampdown
Source: Xinhua |
August 24, 2011, Wednesday
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Print Edition
Print Edition
LIU Mingkang, chairman of China's Banking Regulatory Commission, yesterday said the regulator will prohibit bank loans from entering the stock market in an effort to enhance risk control for Chinese banks.
Liu said the CBRC will also ban banks from providing guarantees for corporate bonds, highlighting the need for banks to strengthen their lending supervision.
The CBRC will urge banks to improve their capital ratios and their ability to counter risk.
Liu said bad loans from commercial banks and rural lenders amounted to 3 trillion yuan (US$470 billion) in 2002, a third of total outstanding loans, but this figure was reduced to 800 billion yuan last year, just 2 percent of total loans.
Liu said the CBRC will also ban banks from providing guarantees for corporate bonds, highlighting the need for banks to strengthen their lending supervision.
The CBRC will urge banks to improve their capital ratios and their ability to counter risk.
Liu said bad loans from commercial banks and rural lenders amounted to 3 trillion yuan (US$470 billion) in 2002, a third of total outstanding loans, but this figure was reduced to 800 billion yuan last year, just 2 percent of total loans.
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