BOC debt sale delayed

Plans by the Bank of China (BOC) to sell US$724.9 billion to US$1.1 billion of non-performing loans was delayed, partially as a result of a recent government bailout of the bank, according to a report in the South China Morning Post. The report added that the delay was also due to new regulations mandating that such sales be conducted via the four big state-owned asset management companies. BOC's sale of bad debt, primarily located in Guangdong province, is unlikely to take place until the second half of 2004, the report said.