Chinese Bank Rejects Bad Loan Report

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00012375-chinese-bank-rejects-bad-loan-report/

Rumors of China’s billions-of-dollars bad loan debt have been greatly exaggerated, according to The People’s Bank of China and CCTV.com.

An accounting firm report — which the People’s Bank denounces with the Air-Quotes of Dubiousness as a “research report” — has largely distorted the facts about China’s capital situation, according to the Bank.

While the original “report” claimed US$900 billion for China’s bad loan debt, the People’s Bank says that number is more realistically around US$160 billion.

You can read more about this story at Chinese Bank Rejects Bad Loan Report.