Fitch: China Banks' Net Interest Margins Declining

Grace Wu, head of Greater China bank ratings at Fitch Ratings, discusses the prospects for the banking industry. China’s largest banks are preparing to cut interest rates on existing mortgages and deposits, the latest state-directed measures to shore up growth in the world’s second-largest economy. Wu speaks with Haidi Stroud-Watts and Shery Ahn on "Bloomberg Daybreak: Asia."
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[valetudo]

Lol there was just some Chinese guest on Bloomberg yesterday saying how banks were cheap and a good place to put your longterm capital. That didn't age well...

[lastChang]

Banks' margin decline due to mortages is an indication that the problems of property sector now spreads to financial sector.

[ArabicReja]

China is the exact example that the Global South must *try to avoid:*
From Covid lockdowns
to spiraling property crisis spilling to the financial sector
to mounting local government debt
to worsening deflation
to record-high youth unemployment rate,
the Chinese problems are so bad that the government has prohibited citizens from discussing it in social media.

[goldsilvervscrisiscollapse]

So China reduces interest to help home owners. Banks don't get as rich. Only Bloomberg would take the side of the banks