Chinese banks extended a record 12 trillion yuan (US$1.7 trillion) worth of new loans in the first six months of the year, responding to Beijing’s call to help support the real economy. Photo: Reuters

China warned to prepare for ‘big rise’ in bad loans as financial system braces against coronavirus, rising global tensions

  • The China Banking and Insurance Regulatory Commission said this week Beijing’s efforts to avoid a broader financial crisis are facing fresh challenges
  • China’s official statistics paint a picture of a sound financial system, but cracks are appearing in the banking system at a grass-roots level
Topic |   China economy
Chinese banks extended a record 12 trillion yuan (US$1.7 trillion) worth of new loans in the first six months of the year, responding to Beijing’s call to help support the real economy. Photo: Reuters
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