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在线翻译:
szdaily -> Business
Henan cuts loans to overcapacity industries
    2016-August-25  08:53    Shenzhen Daily

    BANKS in Henan Province have reduced their lending to sectors suffering from overcapacity by 6.4 billion yuan (US$963.71 million) so far this year, a bank regulator official said Tuesday.

    The local banking regulator in Henan is encouraging lenders to reduce the burden on firms in the landlocked province by restructuring their debts, Zhang Chun, deputy head of the Henan branch of China Banking Regulatory Commission (CBRC), said at a briefing in Beijing.

    Heavy industries such as coal and steel have languished in Henan amid an industry downturn that has also hit broad swaths of the country’s northern rustbelt.

    Provinces are under pressure from the Central Government to cut excess capacity in those bloated sectors. The Central Government has also told banks to slash lending to unprofitable and delinquent corporate borrowers in the coal and steel industries. Non-performing loans in China’s banking sector are increasing at a rate that is “worrisome,” Zhang said.

    Some provinces such as Henan have pushed back against the Central Government’s efforts to restrict credit to loss-making firms with excess capacity, though the CBRC has given lenders some latitude to manage their lending to over-capacity industries. (SD-Agencies)

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