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Currently, the ratio of loans that are past the due date by 90 days or more to nonperforming loans is lower than 100 percent, falling from nearly 120 percent at its peak. Banks have also disposed of 1.9 trillion yuan of bad loans since 2017 with strengthened efforts.
Cui Yuying, vice-minister of the State Council Information Office and deputy head of the Publicity Department of the Communist Party of China Central Committee, said at the seminar that China adheres to peaceful development as it tries to promote common development globally.
Cutting the rates is a signal of easing money supply to benefit the real economy, although some PBOC officials recently hinted at withdrawing special monetary stimulus measures, given that the pandemic is almost under control in China and economic recovery in the second quarter was strong, according to analysts. Those special measures were implemented to boost the economy when COVID-19 hit.
Customs officers check imported food on a ship in Rongcheng, Shandong province, on Oct 7. [Photo by LIN HAIZHEN/FOR CHINA DAILY]
DBI is the second anchor investor for the Crayfish.io Accelerator, along with the Birmingham-based UK-China Enterprise Fund, which is backed by the China Aviation Industrial Fund, a private equity fund from Shanghai.
来源：资阳报