Collecting broken China

Baker Tilly MD Rupert Purser and Freshfields partner Thomas Jones discuss recent developments in China NPL disposals.

Background

Before 1993 the four main state banks had not publicly acknowledged the concept and had never provided against a bad debt. During 1999, the Peoples' Bank of China PBOC established four main asset management companies AMCs in order to deal with the severity of the four state bank's accumulated level of NPLs, estimated by some at the time as equating up to 70% of total loans on average. The four AMCs and source banks are outlined in the table below

...

Bank

AMC

Bank of China

China Orient

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