China's troubled property sector is driving up bad loans at the nation's top state banks. © Reuters
See Also
Sinology: China’s Debt ProblemUnderstanding China's Real Estate Crisis - The Global TreasurerChina's debt-to-GDP ratio climbs to record 287.8% in 2023ECHO WONG, Nikkei staff writer | China
HONG KONG -- China's top four banks collectively reported an increase in total bad loans in 2023, as credit pressure rises in areas closely tied to the troubled property sector.
The "Big Four" state-owned banks, Industrial and Commercial Bank of China (ICBC), Bank of China (BOC), China Construction Bank (CCB), and Agricultural Bank of China (ABC) reported this week that their total nonperforming loans reached 1.23 trillion yuan ($170 billion) in 2023, up 10.4% from 1.117 trillion yuan in 2022.
