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China Bank Bad Loans May Double on Local Finance, 21st Reports

Aug. 19 (Bloomberg) -- The Chinese government’s push to clean up local government financing may double the balance of non-performing loans at the nation’s banks, the 21st Century Business Herald reported today, citing an unidentified commercial bank official.

If the government forces banks to increase provisions for loans that may go bad, it could wipe out profit for China’s banking industry this year, the newspaper reported.

To contact the editor responsible for this story: Bloomberg News at jliu42@bloomberg.net

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