Big Chinese banks reduce bad loans increase profit

CHINA - China's four major state-run commercial banks have all reported strong profit for the first half of the year as they continued to reduce a heavy portfolio of bad loans.

Bank of China and China Construction Bank this week became the last of the four banks to announce their first-half results. Industrial & Commercial Bank of China, or ICBC, and Agricultural Bank of China previously issued earnings reports.

Bank of China, the country's largest foreign-exchange bank, reported the largest fi