The China Banking Regulatory Commission (CBRC), China's financial regulator announced that it will inspect the country's largest banks in order to size up their non-performing loan levels and risk control systems.
The CBRC said that it will examine loans made by Industrial & Commercial Bank of China, Bank of China, China Construction Bank and Agricultural Bank of China to the steel, property and automobile industries, among others. The regulator added that the banks were also required to check themselves and report their findings to the government by the end of February.
China's big four state banks had US$193 billion in bad loans by the end of 2003.
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