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Article: SUBPRIME CRISIS NOT AFFECTS CHINA'S BANKING MUCH
- Article from:
- AsiaInfo Services
- Article date:
- October 1, 2008
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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AsiaInfo Services
10-01-2008
Subprime Crisis Not Affects China's Banking Much
BEIJING, Oct 01, 2008 (SinoCast via COMTEX) -- The US subprime crisis and the fluctuations it caused to the global financial market will not deliver a strong impact on China's banking industry, Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC), the top Chinese banking regulator, said at a conference days ago.
Banks in the country were asked to unveil the loss they suffered from investing in subprime products and the results show that subprime-related financial products Chinese banks bought were not large in size. Therefore, the risk for them to experience losses from those investments will ...