End of an Era in Chinese Banking
Chinese bank assets have been increasing by 17 to 20 percent on an annual basis, but the good times may soon be coming to an end.
Recently, the People's Bank of China and the China Banking Regulatory Commission (CBRC) released statistics that call for close attention. By the end of April, the outstanding balance of the broader money supply, known as M2, was 75.73 trillion yuan, increasing by 15.3 percent compared to the same period last year. Second, as of March, the total assets of the banking industry in both domestic and overseas markets reached 101.2 trillion yuan, an 18.9 percent increase compared to the first quarter in 2010.
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