China Bad Loans, Capital Outflows Stabilize, PBOC's Yi Says
- Government will push forward opening up financial markets
- NPLs declined in fourth quarter for first time since 2012
Yi Gang: China to Cut Red Tape for Yuan Transaction
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China’s non-performing loans have stabilized and the pressure from capital outflows has eased as the nation’s economic recovery takes hold, said Deputy Central Bank Governor Yi Gang.
“NPLs are getting pretty much stabilized after a long time of climbing,” Yi said at the International Finance & Infrastructure Forum at Bloomberg’s headquarters in New York. “That’s a good development in the financial market. Capital outflow pressure has been alleviated recently, but still we have to watch that kind of phenomenon.”