China’s banks have done their national service. Now they are paying for it. Although their non-performing loan ratios look to be under control at an average 0.9 per cent, asset quality is in fact still deteriorating. Under China’s enigmatic loan classification system, delinquent loans were up 80 per cent at Shanghai Pudong Development Bankin the first half; up almost two-thirds at Minsheng Bank. Rolling over local government debt means that this problem will get worse.
中國銀行業曾幫過國家的大忙。現在，它們正為此付出代價。盡管它們的不良貸款率平均僅為0.9%、似乎在掌控之中，但事實上，它們的資產質量仍在惡化。按照中國謎一般的貸款分類制度，上海浦東發展銀行(SPDB)的逾期貸款在今年上半年增加了80%，民生銀行(Minsheng Bank)則增加了將近三分之二。中國的銀行對地方政府債務進行了展期，這意味著未來的不良貸款問題將更嚴重。
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