Bad loans are rising sharply at the lowest tiers of China’s financial sector, with some small commercial banks reporting delinquency rates of 20 per cent or more on their loan books.
Debt levels in China’s $29tn banking system has been described by some analysts as reaching “epidemic” levels as economic growth slows to the lowest level since the onset of the global financial crisis and corporations struggle to repay loans.
City and rural commercial banks are a big wedge of China’s financial system, constituting nearly a quarter of assets in the country’s commercial banking sector.
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