People walk past an ICBC banking outlet in Beijing. Investors are looking out for signs of weaker earnings as Chinese lenders make ‘national service’ efforts to aid the economy. Photo: ReutersPeople walk past an ICBC banking outlet in Beijing. Investors are looking out for signs of weaker earnings as Chinese lenders make ‘national service’ efforts to aid the economy. Photo: Reuters
People walk past an ICBC banking outlet in Beijing. Investors are looking out for signs of weaker earnings as Chinese lenders make ‘national service’ efforts to aid the economy. Photo: Reuters

Chinese banks brace for cost of national service to shore up economy as debt reprieve, soured loans erode earnings

  • Lenders have been asked to sacrifice profits, extend debt reprieve to businesses, and hire new graduates to ease unemployment
  • Banks are expected to report weaker second-quarter earnings due to the lingering effects of coronavirus as bad loans accumulate

Topic |   Banking & Finance
People walk past an ICBC banking outlet in Beijing. Investors are looking out for signs of weaker earnings as Chinese lenders make ‘national service’ efforts to aid the economy. Photo: ReutersPeople walk past an ICBC banking outlet in Beijing. Investors are looking out for signs of weaker earnings as Chinese lenders make ‘national service’ efforts to aid the economy. Photo: Reuters
People walk past an ICBC banking outlet in Beijing. Investors are looking out for signs of weaker earnings as Chinese lenders make ‘national service’ efforts to aid the economy. Photo: Reuters
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