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Wenzhou Bad Loan Ratio Declines, Ending 17-Month Rising Streak

The non-performing loan ratio at banks in Wenzhou, the eastern Chinese city hit hardest by the collapse of private lending, dropped for the first time since June 2011, the Oriental Morning Post reported.

The ratio fell to 3.43 percent at the end of November, down 0.01 percentage point from a month earlier, the newspaper said, citing data from the local banking regulator. Still, the total amount of soured debt climbed to 24 billion yuan in November, an increase of 87 million yuan from October and up 15.3 billion yuan from the beginning of the year, the report said.