Official data from China’s banking regulator points to the disposal of copious volumes of bad debt in 2021.
In 2021 China saw the disposal of a total of 3.1 trillion yuan in non-performing assets in the banking sector, according to figures released by the China Banking and Insurance Regulatory Commission (CBIRC) on 25 January.
CBIRC data further indicates that the shadow banking sector contracted by 4.2 trillion yuan compared to the start of the year in 2021, with regulators hailing “orderly progress in the handling of high risk banking and insurance institutions.
CBIRC said that it issued 3870 fines to banking and insurance sector institutions in 2021, as well as fined individuals from the banking and insurance sectors on 6005 occasions, penalties worth 2.699 billion yuan in total.
