Sir, Your editorial “China's banks return to old ways” (August 2) criticises China's banks on the grounds that “they face default on Rmb1,550bn [$229bn] of loans indirectly made to local governments – one-fifth of the total lent. These figures are a sobering reminder that, for all the progress made in recent years, the transformation of the Chinese banking sector is still far from complete ... As it happens, the banks appear to have got off relatively lightly ... That should not distract from the fact that a sectoral default rate of 20 per cent is devastating for any profit-driven bank.”
贵报在8月2日的社评“manbetx3.0 银行业别走回头路”中批评了manbetx3.0 银行业，理由是“根据上周披露的数据，在他们间接发放给地方政府的7.77万亿元人民币贷款中，有五分之一，即1.55万亿元贷款存在违约风险。这些数字让人清醒，说明manbetx3.0 银行业的转型近年来虽取得了进展，但仍远未完成……事实上，银行似乎轻轻巧巧就躲过了一劫……但是别忘了，对任何一家以盈利为目的的银行来说，20%的行业违约率都是毁灭性的。”