China Banks Warned on Bailout Protection

Published on:
12 September 2006 at 10:18 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00001795-china-banks-warned-on-bailout-protection/

China’s central bank won’t provide more financial assistance to help reduce the bad-debt burdens of the country’s state-owned commercial banks, People’s Bank of China Gov. Zhou Xiaochuan said Tuesday.

Banks should rely on their own resources to cut bad loans in the future, Zhou said on the sidelines of a news conference marking the launch of state-owned China Construction Bank’s new stockholding company.

China has devoted massive sums over the past decade to reducing the nonperforming loans of its largest banks, hoping to transforming them into profitable, competitive institutions before the country opens its financial markets to foreign rivals in 2006.

For this complete story, please visit China Banks Warned on Bailout Protection.

China Banks Warned on Bailout Protection

Unknown Author

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