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It has been reported that a total of 290 mergers and acquisitions took place in this sector. In addition to the group of major national banks, small regional banks—of which roughly 3,700 exist in the nation—significantly contribute to the economy by providing funding and loans for various local initiatives in agriculture, road development, infrastructure, and more.
Reuters calculated that the total assets of regional banks in China amounted to 57 trillion yuan ($7.8 trillion) as of June last year.
Experts suggest that vigorous mergers and acquisitions in this sector could indicate the onset of a recovery in the Chinese financial market, which has faced challenges for several years due to substantial amounts of outstanding debts, including mortgage obligations.
“Following years of cleansing the banking system, it has reached a fairly sound condition - although the overall economy remains somewhat weak,” stated Jason Bedford, an expert from the agency on the Chinese banking sector.
source: reuters.com
Reuters calculated that the total assets of regional banks in China amounted to 57 trillion yuan ($7.8 trillion) as of June last year.
Experts suggest that vigorous mergers and acquisitions in this sector could indicate the onset of a recovery in the Chinese financial market, which has faced challenges for several years due to substantial amounts of outstanding debts, including mortgage obligations.
“Following years of cleansing the banking system, it has reached a fairly sound condition - although the overall economy remains somewhat weak,” stated Jason Bedford, an expert from the agency on the Chinese banking sector.
source: reuters.com