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Large exposure to local government financing vehicles of China's smaller banks
06/17/2010
Larger banks have a smaller portion of their loans made to local government financing vehicles than the larger banks. Agricultural Bank of China, Construction Bank of China, Bank of China, Industrial and Commerical Bank of China have 6-7% of their loans made to local government financing vehicles, compared to 20% for Everbright Bank and 13-20% for other smaller banks. This means they will be the first to be in trouble in a financial crisis because of the high risk and poor asset quality of such loans.
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