Moody's: Chinese banks face increasing risks in asset quality and rising financial sector interconnectedness
Hong Kong, December 13, 2016-- Moody's Investors Service says that Chinese banks are facing increasing risks as a result of China's economic slowdown, rising leverage in the system, and financial sector interconnectedness. "The system is seeing an increasing level of nonperforming loans-- which were 1.76% of gross loans at end-September 2016, up from 1.67% at end-2015 and 1.25% at end-2014-- while credit costs are also rising," says Sean Hung, a Moody's Assistant Vice President and...
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