China sees drop in non-performing loan ratio

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The non-performing loan ratio for all Chinese banks stood at 1.99 percent at the end of May, down 0.16 percentage points from a year earlier, according to official data.

Liu Zhiqing, deputy head of the prudential regulation bureau of the China Banking Regulatory Commission (CBRC) said on Thursday that China's recent steps to control financial risks have gained traction and some riskier businesses carried out by banks have been contained.