科研之友
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摘要
<正>The extent of China’s non-performing loans(NPLs) is uncertain given the non-transparency of China’s state-owned banking sector and banking regulatory regime and lenient standards of recognizing NPLs. The real level of bad debt therefore is higher than the official figure may suggest.1 The ratio of China’s outstanding corporate debt to GDP is higher than that in Japan. This high debt level not only demonstrates the increasing financial burdens for indebted corporations but also the deteriorating status of commercial banks and the heightened systemic risks in the real economy,showing a high likelihood of economic destabilization. This article analyzes various means of disposing of NPLs and inefficacy of such means. More importantly, this article tries to find out solutions to resolve such inefficacy.This article is structured as follows. Part I clarifies the classification and resolution methods of NPLs and provides an overview of asset management companies(AMCs) as the principal means of disposing of NPLs. Part II reviews traditional solutions to NPLs. Part III discusses new solutions to NPLs and provides assessment of those actions. Part IV concludes with experience and lessons to dispose of NPLs and debt crisis.
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