Regulator warns Chinese banks to prepare for bad loans

11/4/2013 | Reuters

Shang Fulin, head of the China Banking Regulatory Commission, says financial institutions must work harder to get ready for an increase in nonperforming loans. "We must make more efforts to prepare for a possible rise in nonperforming assets and explore market-based options to pack and transfer bad loans," he said. "Banks must also seek various channels to clean up bad loans by industries with overcapacity to prevent new risks from brewing."

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