porno Chinese Law | China: Banks Permitted to Sell Each Other Loans
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Banks Permitted to Sell Each Other Loans

29.09.10 21:45 Age: 7 yrs
Banks Permitted to Sell Each Other Loans


According to report from China Daily, twenty-one banks agreed in Shanghai on Saturday, September 27, 2010, to sell loans on China's interbank market after the government allowed the transactions for the first time. The global financial crisis showed the inefficiency of risk management, People's Bank of China Governor Zhou Xiaochuan said at a ceremony in Shanghai. The loan transfer plan was a new product in the nation's interbank market and will improve banks' risk-management abilities and will help with the central bank's macro control, he said. Chinese banks have increased their loans by an average of 20 percent annually since 2005 to sustain economic growth. Lenders had 45.7 trillion yuan of local currency denominated loans outstanding as of Aug 31, according to the central bank.


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