China's already started bailing out its banks, says UBS

Abu Dhabi

THE good news is that the capital raises have begun. The bad news is that they need to continue.

An analysis of 765 banks in China by UBS AG shows that efforts to clean up the country's debt-ridden financial system are well underway, with as much as 1.8 trillion yuan (S$364 billion) of impaired loans shed between 2013 and 2015, and 620 billion yuan of capital raised in the same period. But the work is far from over, as to reach a more sustainable debt ratio t…