Rumors of China’s billions-of-dollars bad loan debt have been greatly exaggerated, according to The People’s Bank of China and CCTV.com.
An accounting firm report — which the People’s Bank denounces with the Air-Quotes of Dubiousness as a “research report” — has largely distorted the facts about China’s capital situation, according to the Bank.
While the original “report” claimed US$900 billion for China’s bad loan debt, the People’s Bank says that number is more realistically around US$160 billion.
You can read more about this story at Chinese Bank Rejects Bad Loan Report.
