BEIJING (Reuters) – China’s banking sector saw its non-performing loan ratio decline 0.09 percentage points year-on-year to 1.68% at the end of the first quarter this year, the sector’s regulator said on Wednesday.
Outstanding non-performing loans in the banking sector stood at 3.9 trillion yuan ($563.49 billion) at the end of the first quarter, according to a statement by the China Banking and Insurance Regulatory Commission (CBIRC).
(This story has been corrected to say China’s banking sector, not commercial banks, in both headline and the story)
(Reporting by Beijing Newsroom; Editing by Andrew Heavens)
