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China's banks handle record 3.13 trln yuan of non-performing assets in 2021

February 09, 2022


Abstract : China's banking sector handled 3.13 trillion yuan (about 492.4 billion U.S. dollars) worth of non-performing assets last year, effectively reducing credit risks, official data showed.

Aerial photo taken on June 21, 2018 shows the morning view of the Lujiazui area in Pudong, east China's Shanghai.  (Xinhua/Ren Long)

BEIJING, Feb. 8 (Xinhua) -- China's banking sector handled 3.13 trillion yuan (about 492.4 billion U.S. dollars) worth of non-performing assets last year, effectively reducing credit risks, official data showed.

The figure saw an increase by 0.11 trillion yuan from a year ago, a record high, according to the China Banking and Insurance Regulatory Commission.

During the 2017-2021 period, China's banks handled 11.9 trillion yuan worth of non-performing assets, which surpassed the aggregate of 12 years prior to the period and served as a key backstop against systemic financial risks, the commission said.

Warning against the possibility of bad loans resurging amid COVID-19 strains and economic headwinds, the commission urged banks to strengthen oversight over the quality of their assets.

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