Exterior of a Baoshang Bank's office building at the city centre of Baotou, Inner Mongolia on 29 July 2019. Photo: SCMP/Orange Wang

Going, going, still no takers? China’s small, indebted local banks fail to attract buyers at auction, even at half price

  • Chinese banks are trading at a distressed level in Hong Kong, at an average of 0.6 times their forecast book value
  • Stocks and bonds of smaller banks – companies that UBS estimated are facing a potential capital shortfall of 2.4 trillion yuan – are struggling to find buyers
Topic |   Banking & Finance

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Exterior of a Baoshang Bank's office building at the city centre of Baotou, Inner Mongolia on 29 July 2019. Photo: SCMP/Orange Wang
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