[Howard Davies] Chinese finance comes of age, resolving NPL problem
Jun 30, 2011
LONDON ― The Chinese financial system’s evolution in recent years has been extraordinary. I have observed its transformation as a member of the International Advisory Council of the China Banking Regulatory Commission (CBRC).Back in 2002, all of China’s major banks were awash in nonperforming loans (NPLs), which in some cases amounted to more than 10 percent of the total balance sheet. None of the