New banking panel to focus on loan reform

CHINA’S newly unveiled banking commission, largely as expected, has placed top priority on battling what is possibly the sector’s most virulent problem – massive non-performing loans (NPL).  

A top official with the China Banking Regulatory Commission said supervisory priorities for the commission in the near term were to reduce the NPL ratios at commercial banks, quicken reform at state-owned commercial banks and accelerate the reform of rural credit co-operatives.