China Banking Regulatory Commission Chairman Liu Mingkang said only 30 banks, representing roughly half China's total bank assets, meet standard 8% capital adequacy ratio requirements. At that, some figures had been inflated by sales of subordinated bonds – totaling RMB112.2bn over the past year – raising questions about their long-term ability to maintain capital adequacy levels. Banks have till the end of 2006 to get their CARs up to 8%.
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