One of the most remarkable stories of business reform and revival over the past decade has been the turnround in the Chinese banking sector.
China’s state-controlled lenders were all technically insolvent by the late 1990s, with a sector-wide non-performing loan ratio of as much as 50 per cent, according to some estimates.
Following a successful government bail-out programme, Chinese banks are now the biggest (by market capitalisation) and most profitable (in absolute terms) in the world and boast some of the strongest balance sheets of any financial groups.
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