小编摘要：中国银行(Bank of China)董事长肖钢认为：中国几年之内不会发生金融危机。
The chairman of Bank of China has dismissed suggestions that China could face its own banking crisis as a result of an unprecedented expansion of state-directed credit in the past two years.
“Some analysis and estimates from outside say there could be a financial crisis in China in the next few years,” Xiao Gang, chairman the country’s third-largest lender by market value, said on the sidelines of the annual National People’s Congress in Beijing.
“But I think the chances of a big increase in bad loans in the banking sector are very small.”
Chinese banks lent about Rmb17,500bn ($2,667bn) in the past two years alone, compared with just more than Rmb4,500bn in 2008, as Beijing responded to the global economic crisis by opening the credit floodgates and ramping up infrastructure construction.
Much of the new lending found its way into real estate and local government infrastructure projects. Analysts and even some Chinese bankers say the credit binge has helped fuel inflation and many of the loans will not be repaid.
Mr Xiao acknowledged that non-performing loan ratios at Chinese banks were almost certain to rise from their current low levels of below 1 per cent, but he said there would not be a big jump in bad credit.
Fitch, the rating agency, issued a warning last June and again in November that China was likely to face a banking crisis within the next three years as a result of the credit surge, according to the standardised risk assessment it does for most large economies.
Mr Xiao said Chinese banks had so far not seen any widespread examples of distressed borrowers unable to repay loans and he expressed confidence that Beijing would be able to maintain fast and stable growth in the coming years.
He said the fact Chinese banks had expanded loans rapidly in recent years to individual retail customers to buy houses and cars also lowered the risk of a banking crisis.
“Everybody knows Chinese people have a tradition of repaying debt and will only borrow what they can afford to pay back in the future,” Mr Xiao said.
Cultural aversion to debt delinquency was a common argument put forward during consumer credit booms in countries such as South Korea and Taiwan prior to the Asian financial crisis – but in both those cases borrowing habits quickly changed, leading to a rapid build-up of bad loans.
China’s last financial crisis peaked more than a decade ago when the government bailed out and restructured the state-owned banking sector following a state-directed lending binge in the mid-1990s that resulted in bad debt ratios as high as 50 per cent by some estimates.
The government has ordered banks to lend less this year and has lifted the ratio of deposits they must hold in reserve with the central bank at least five times since last October.
Mr Xiao said BoC expected to extend about Rmb600bn in new loans this year, compared with about Rmb620bn last year, but this was unlikely to have a big impact on profits as rising interest rates would provide higher returns on loans and bonds.
中国银行(Bank of China)董事长肖钢对外界的一些说法表示不以为意，这些说法认为，过去两年中国在政府指令下信贷空前扩张，其结果是中国可能面对自己的银行业危机。
The US Congress moved closer to punishing China for allegedly manipulating its currency, as a key committee of the House of Representatives voted to advance legislation that could