The China Banking Regulatory Commission warned there could be a resurgence of non-performing loans in the wake of Beijing's credit tightening. NPLs at the big four state banks were reduced by RMB 401.4 billion (US$48bn), to RMB 1.52 trillion (US$183bn), in the first half of 2004, a shift that reduced the ratio of NPLs on their loan books to an average 15.6% from over 20%. The four lenders alone account for over half of the country's bank assets. The 11 smaller national shareholding banks have reportedly pushed their NPL ratios down below 5.2%
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