14 | Thursday, June 10, 2021 HONG KONG EDITION | CHINA DAILY BUSINESS Moody’s keeps stable view on banks in China Ratings firm says sustained recovery, lenders’ asset quality outweigh risks By JIANG XUEQING performing loans in the first quar-
[email protected] ter, said Liang Tao, vice-chairman of the China Banking and Insur- Moody’s Investors Service, a ance Regulatory Commission, at a New York-headquartered global news conference on June 1. credit ratings agency, said it holds By the end of the first quarter, a stable outlook on China’s bank- the outstanding balance of non- ing sector in spite of potential performing loans in the banking risks in the form of uncertainties sector was 3.6 trillion yuan. The over the green transformation’s sector’s NPL ratio was 1.89 per- technological implementation. cent, down 0.02 percentage point Nicholas Zhu, vice-president from the beginning of this year, and senior credit officer at Liang said. Moody’s, attributed the stable Although experts do not expect outlook to the solid asset quality systemic financial risks in China, of Chinese lenders and the econ- they said credit risk will stay omy’s sustained recovery from between large, systemically impor- the impacts of the COVID-19 tant banks and smaller regional pandemic. banks whose asset quality is closely A consumer checks out a Vivo X60 smartphone, a model co-developed by Vivo and Zeiss, at a store in Shanghai. PROVIDED TO CHINA DAILY Therefore, Moody’s, which also linked to regional economic per- provides research and risk analy- formance and the industry seg- ses, has upgraded its ratings out- ments they specialize in.