Mike “Mish” Shedlock | Sep. 13, 2012, 4:36 AM
Banks also are feeling the pinch. The industry’s nonperforming loans increased for three consecutive quarters through June to 456.4 billion yuan, the longest streak of deterioration in eight years, according to the China Banking Regulatory Commission.
Loans overdue more than one day jumped 27 percent in the first half at the nation’s five largest lenders, including Industrial & Commercial Bank of China Ltd., the country’s biggest, and Bank of Communications Co., according to data compiled by Bloomberg based on semi-annual earnings statements.
Implosion Reaches Critical Mass
China’s shadow banking is not a new topic, and the implosion now appears to have reached critical mass. Here are a few more Bloomberg articles.