Buy custom Is China's exchange rate undervalued?
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Business
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| Number of pages / Number of words: |
14 / 3722 |
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Years of government-led investment coupled with weak contract enforcement have created a credit culture where banks have limited incentives to maintain strict lending practices and enforce loan contracts. (Pigott, p-19). This defunct credit culture has lead to the massive accumulation of non-performing loans (NPLs) by banks...
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(Pigott, p-19). This defunct credit culture has lead to the massive accumulation of non-performing loans (NPLs) by banks.
In 2003 the NPLs of the banking sector, including state owned banks, policy banks and joint stock banks, amounted to 2,532 billion yuan measured according to the five-category supervisory loan classification system, and the NPL ratio is 18...
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