Briefly

Banks see stable credit asset quality

China's commercial lenders saw their nonperforming loan ratio stand at 1.59 percent at the end of the first quarter, basically in line with the figure reported at the end of last year, said the National Financial Regulatory Administration. The nonperforming loan balance of commercial banks reached 3.4 trillion yuan ($478.3 billion) at the end of March, 141.4 billion yuan more than that at the end of December. The data confirmed that the country's commercial banks had maintained generally stable credit asset quality.

PBOC adds liquidity via reverse repos

China's central bank conducted 2 billion yuan ($281.36 million) of seven-day reverse repos at an interest rate of 1.8 percent on Tuesday. The move aims to keep liquidity reasonable and ample in the banking system, said the People's Bank of China. A reverse repo is a process by which the central bank purchases securities from commercial lenders through bidding, with an agreement to sell them back in the future.

Xinhua - China Daily