China's top banking regulator on Friday warned of growing risks to the country's financial system as a result of an unprecedented expansion in new loans and urged the country's lenders to improve their internal management.
The statement by Liu Mingkang, chairman of the China Banking Regulatory Commission, may signal a more assertive stance from the body in the build-up to a top-level Communist party meeting scheduled for November that will set the country's economic agenda for the coming year.
Chinese financial institutions extended Rmb8,185bn ($1,199bn) in local currency loans in the first eight months of this year, an increase of 164 per cent from the same period in 2008, a credit binge analysts say has been facilitated by a serious relaxation in lending standards.
“This year, all kinds of risks have arisen in the banking sector along with the rapid credit expansion,” said Mr Liu in a written statement. “Banking institutions should always stick to the bottom line of compliance management, to lay a solid foundation for risk management.”
For most of this year, the CBRC has been an almost lone voice within the government urging caution over the rapid loan growth and the potential for a future shock to the system.
China's economic recovery has been largely fuelled by the flood of credit from the state-controlled banks but this has prompted fears of fresh bubbles forming in the property and equities markets and raised the prospect that growth could falter as lending returns to a more sustainable level.
“This is a high-risk strategy, since in prior eras, massive Chinese loan growth eventually led to massive Chinese non-performing loans and a banking sector that had to be recapitalised,” Michael Cembalest, chief investment officer at JPMorgan Global Wealth Management, said in a recent report.
“The removal of loan quota limits once the global recession hit may have unleashed a torrent of relaxed underwriting standards that will not be visible until the next downturn.”
中国银行业最高监管机构上周五警告，由于新增贷款的空前扩张，中国金融体系面临的风险正日渐增加。该机构敦促中国国内银行加强自身的内部管理。
中国银监会(CBRC)主席刘明康的声明，可能表明了在定于今年11月举行的共产党高层会议前夕，银监会所采取的更为坚定的立场。11月份的会议将确定中国来年的经济日程。
今年前8个月，中国金融机构共发放人民币贷款8.185万亿元人民币（合1.199万亿美元），较去年同期增长164%。分析师称，贷款标准的严重松动助长了此次信贷狂潮。
刘明康在一份书面声明中表示：“今年以来，随信贷投放快速增加，银行业各类风险有所抬头……银行业金融机构要始终坚守合规经营底线，为风险管理打下坚实基础。”
今年大多数时候，中国政府内部几乎只有银监会一个部门一直在敦促，中国应对贷款快速增长及金融体系未来可能遭受冲击保持警惕。
中国的经济复苏主要受到国有银行信贷急剧增加的推动，但这已经引起了人们两方面的担忧，一是房地产与股票市场可能正在形成的新的泡沫，二是随着贷款回到更可持续的水平，经济增长可能会动摇。
摩根大通全球财富管理(JPMorgan Global Wealth Management)首席投资官迈克尔•切巴莱斯特(Michael Cembalest)最近在一份报告中表示：“这是一个高风险策略，因为在之前的年代，中国贷款的大举增长最终都会导致不良贷款的大举增加以及必须对银行业进行注资。”
“全球衰退来袭之际取消贷款配额限制，可能形成了宽松贷款标准的急流，要到下一场衰退出现时才能显现出来。”
China's top banking regulator on Friday warned of growing risks to the country's financial system as a result of an unprecedented expansion in new loans and urged the country's lenders to improve their internal management.
The statement by Liu Mingkang, chairman of the China Banking Regulatory Commission, may signal a more assertive stance from the body in the build-up to a top-level Communist party meeting scheduled for November that will set the country's economic agenda for the coming year.
Chinese financial institutions extended Rmb8,185bn ($1,199bn) in local currency loans in the first eight months of this year, an increase of 164 per cent from the same period in 2008, a credit binge analysts say has been facilitated by a serious relaxation in lending standards.
“This year, all kinds of risks have arisen in the banking sector along with the rapid credit expansion,” said Mr Liu in a written statement. “Banking institutions should always stick to the bottom line of compliance management, to lay a solid foundation for risk management.”
For most of this year, the CBRC has been an almost lone voice within the government urging caution over the rapid loan growth and the potential for a future shock to the system.
China's economic recovery has been largely fuelled by the flood of credit from the state-controlled banks but this has prompted fears of fresh bubbles forming in the property and equities markets and raised the prospect that growth could falter as lending returns to a more sustainable level.
“This is a high-risk strategy, since in prior eras, massive Chinese loan growth eventually led to massive Chinese non-performing loans and a banking sector that had to be recapitalised,” Michael Cembalest, chief investment officer at JPMorgan Global Wealth Management, said in a recent report.
“The removal of loan quota limits once the global recession hit may have unleashed a torrent of relaxed underwriting standards that will not be visible until the next downturn.”
中国银行业最高监管机构上周五警告，由于新增贷款的空前扩张，中国金融体系面临的风险正日渐增加。该机构敦促中国国内银行加强自身的内部管理。
中国银监会(CBRC)主席刘明康的声明，可能表明了在定于今年11月举行的共产党高层会议前夕，银监会所采取的更为坚定的立场。11月份的会议将确定中国来年的经济日程。
今年前8个月，中国金融机构共发放人民币贷款8.185万亿元人民币（合1.199万亿美元），较去年同期增长164%。分析师称，贷款标准的严重松动助长了此次信贷狂潮。
刘明康在一份书面声明中表示：“今年以来，随信贷投放快速增加，银行业各类风险有所抬头……银行业金融机构要始终坚守合规经营底线，为风险管理打下坚实基础。”
今年大多数时候，中国政府内部几乎只有银监会一个部门一直在敦促，中国应对贷款快速增长及金融体系未来可能遭受冲击保持警惕。
中国的经济复苏主要受到国有银行信贷急剧增加的推动，但这已经引起了人们两方面的担忧，一是房地产与股票市场可能正在形成的新的泡沫，二是随着贷款回到更可持续的水平，经济增长可能会动摇。
摩根大通全球财富管理(JPMorgan Global Wealth Management)首席投资官迈克尔•切巴莱斯特(Michael Cembalest)最近在一份报告中表示：“这是一个高风险策略，因为在之前的年代，中国贷款的大举增长最终都会导致不良贷款的大举增加以及必须对银行业进行注资。”
“全球衰退来袭之际取消贷款配额限制，可能形成了宽松贷款标准的急流，要到下一场衰退出现时才能显现出来。”
回答者： 天山雪莲BDZD - 四级 2009-11-27 13:58
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