A bank teller counts Chinese 100 yuan notes at a branch of the China Merchants Bank in Beijing on Friday 15 December 2006. Photo: EPA

Valuations of the world’s biggest banks sink to record lows as China’s economic and debt pain spreads in trade war’s aftermath

  • Industrial & Commercial Bank of China lost US$11 billion of market value last week
  • China’s four biggest state banks have fallen to an average price-to-book ratio of 0.61 on the Hong Kong exchange, a level not seen since 2016
Topic |   Banking & Finance

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A bank teller counts Chinese 100 yuan notes at a branch of the China Merchants Bank in Beijing on Friday 15 December 2006. Photo: EPA
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