久久精品30_一本色道久久精品_激情综合视频_欧美日韩一区二区高清_好看的av在线不卡观看_国产自产精品_91久久黄色_午夜亚洲福利_欧美黄在线观看_国内自拍一区

China's banking regulator Wednesday said it is still researching the reform plan for the debt-laden Agricultural Bank of China (ABC), quashing rumors that the banking giant would be broken up into smaller units.

 

Some newspapers quoted China Banking Regulatory Commission Chairman Liu Mingkang as revealing the government is considering transforming the ABC into small institutions or reshuffling the bank on its own conditions.

 

"Such reports are absolutely groundless," said CBRC spokesman Lai Xiaomin.

 

He said China's central authorities are making active research into the reform plan of the Agricultural Bank, which, "due to a myriad of reasons, is plagued by heavy historical burdens, leaving many problems unsettled".

 

But Lai added that "we are full of confidence in the ABC's reform, development and stability."

 

Vice-chairman Wang Jianxi, of the Central Huijin Investment Corporation, a major investment arm of the central government, said the government may bail out the ABC with a huge funding injection to shore up its balance sheets in preparation for market listing.

 

Analysts agree that the bank would need up to US$70 billion to clear its non-performing loans before it could meet overseas listing standards.

 

ABC is widely believed to be the worst hit by massive lending to the rural sector, with a non-performing loan ratio of 24.75 percent reported at the end of March, compared with the one to two percent level reported by established overseas banks.

 

Of China's "Big Four" lenders, only the ABC has yet to begin major reforms carried out by the others with bail-out packages totaling 60 billion from late 2003 till April 2005.

 

China Construction Bank was the first to list in Hong Kong last October, followed by Bank of China earlier this month. Industrial and Commercial Bank of China, the biggest in terms of assets, is expected to go public in September.

 

The government must restructure its banks by the end of this year prior to the full opening of the country's financial markets to foreign rivals under a commitment to the World Trade Organization in 2001.

 

(Xinhua News Agency June 15, 2006)