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Chinese Banks See Top 3 Risks to System |
| Source: |
Shanghai Daily |
| Source Date: |
Wednesday, February 01, 2012 |
| Focus: |
Knowledge Management in Government
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| Country: |
China |
| Created: |
Feb 07, 2012 |
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Chinese banks have listed credit and macro-economic risks as well as liquidity to be the top three threats to the country's banking industry, a latest industry survey showed yesterday.
Their overseas peers picked macro-economic risk as the top threat, according to the survey conducted by the London-based think tank, Centre for the Study of Financial Innovation, which interviewed 700 bankers in 58 countries and regions.
Chinese bankers ranked the quality of risk management their No. 4 concern, compared with the global ranking of No. 10. The survey said Chinese bankers were worried that the current risk management system may not be strong enough to address global economic changes, especially as there didn't seem to be an end in sight for the eurozone debt crisis.
Chinese bankers were concerned about asset quality due to China's cleanup of local government financing vehicles. They also worried about challenges in the property market and doubts about the macro-economy.
Jimmy Leung, a PwC partner, said Chinese banks face risks as "the resulting credit risks may lead to liquidity challenges and impact the pace of business growth."
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Chinese Banks See Top 3 Risks to System Chinese banks have listed credit and macro-economic risks as well as liquidity to be the top three threats to the country's banking industry a latest industry survey showed yesterday
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