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BIZCHINA> Top Biz News
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China halts securitisation of bad loans
(Agencies)
Updated: 2009-02-25 10:34 China's banking regulator has suspended banks' efforts to securitise non-performing loans, as the US subprime crisis aroused concern over such products, the 21st Century Business Herald reported on Wednesday.
China's asset-backed securities market has just taken root. The government kicked off a pilot programme in March 2005 and so far 11 institutions have issued a combined 60 billion yuan ($8.7 billion) of such securities, the newspaper said. China Construction Bank and two Chinese companies specialising in purchasing non-performing loans have issued four batches of securities backed by non-performing assets, it said. (For more biz stories, please visit Industries)
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