Date
20 November 2017

China eases NPL write-off rules for banks, WSJ says

Mainland banks have been granted greater freedom to write off small non-performing loans (NPL), although they still need to follow strict rules, the Wall Street Journal reported Tuesday, citing a finance ministry statement posted on the Jiangsu provincial financial bureau’s website. The new NPL write-off rules took effect this month, it said, adding that the move is expected to encourage banks to grant loans to small businesses. Meanwhile, the central bank is testing a program this week aimed at giving local banks around the country better access to funds when short-term borrowing costs rise above high levels.

– Contact HKEJ at [email protected]

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