China's banking sector disposed of $467 billion soured assets in 2020: statement

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The non-performing loan ratio of the banking sector was 1.92% at the end of 2020, according to a statement by China’s Banking and Insurance Regulatory Commission (CBIRC). The whole sector set aside a 1.9 trillion yuan loan loss provision last year, it added.

China’s commercial banks posted 2 trillion yuan in net profits in 2020, down 1.8% from a year earlier.

($1 = 6.4722 Chinese yuan renminbi)