China chief urges banks to curb bad loans

China's central bank chief Dai Xianglong urged state-owned banks to reduce bad loans and repeated a ban on loans being funnelled to stock speculation, the official Financial News said on Mar 21, 2001.

"The proportion of non-performing loans of state commercial banks should be eventually lowered," the newspaper quoted Dai as saying at a recent central bank meeting. "A breakthrough will be achieved through supervision, investigation, implementing a responsibility system and monitoring," he said.

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