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BEIJING - Dagong Global, a major Chinese credit rating agency, assessed the credit rating of China's banking industry as "stable" in its seventh banking credit rating report released Tuesday.
"Dagong made its assessment based on factors such as the financial strength and potential external support of domestic commercial banks," the agency said in a report.
The report said the overall financial strength of Chinese banks will continue to improve with the steady growth of Chinese economy, ongoing reform of the country's banking sector and improving risk-control capability of domestic banks.
It also warned of risks and challenges, such as the tightening monetary policies, rigid requirements for capital adequacy ratio and fierce market competition.
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