SUBSCRIBERS
China's banking system under stress as economy slows
Published Thu, Jun 25, 2020 · 09:50 PM
Beijing
CHINA'S banking system is at the forefront of the country's recovery plan which could weaken the banks, already hampered by years of inefficient lending and slower economic growth.
The government has explicitly asked banks to let go of some 1.5 trillion yuan (S$295 billion) in profits for 2020, representing 75 per cent of profits for the previous year.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Norway sovereign wealth fund backs HSBC bonus policy reform
Dollar surges past fresh 34-year high of 160 yen in morning trade
Australian, New Zealand dollars jump to decade-highs against weakened yen
Perpetual in talks with KKR for corporate trust and wealth management unit sale
CICC cutting dealmakers’ base pay by 25%, sources say
RBNZ says insurance may become unaffordable for high-risk homes