LINE

Text:AAAPrint
Economy

China policy bank sees drop in bad loans

1
2018-01-30 14:10Xinhua Editor: Gu Liping ECNS App Download

China Development Bank (CDB), a major policy bank, reported a drop in bad loans last year.

CDB Governor Zheng Zhijie said the ratio of non-performing loans (NPL) had remained below 1 percent for 51 consecutive quarters at the end of 2017, a level markedly lower than the 1.74 percent of commercial banks in the third quarter of last year.

The bank will continue to step up risk control to ensure stable asset quality, Zheng said.

Founded in 1994, the CDB is designed to provide finance to major national projects and development strategies. It has become the world's largest development finance institution, and the largest Chinese bank for foreign investment, long-term lending, and bond issuance.

The CDB lent 17.6 billion U.S. dollars to regions along the Belt and Road last year and make loan commitments worth 99.1 billion yuan (15.65 billion dollars). Outstanding loans to overseas businesses stood at 332.7 billion dollars, the largest for Chinese lenders.

The bank has also channeled more energy into financing urbanization projects, emerging sectors, environmental protection and other national priorities.

The total assets of the CDB rose to 15.67 trillion yuan at the end of 2017, up from 14 trillion yuan from the previous year.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.