Business
        

Money

Dagong Global sees stable outlook for Chinese banking sector

Updated: 2011-04-20 10:08

(Xinhua)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

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.

Related readings:
Dagong Global sees stable outlook for Chinese banking sector China's Dagong issues 2nd credit rating report
Dagong Global sees stable outlook for Chinese banking sector Dagong accuses US regulator of discrimination on denied bid
Dagong Global sees stable outlook for Chinese banking sector SEC denies Dagong's US bid
Dagong Global sees stable outlook for Chinese banking sector Dagong Global rebuts S&P's accusation of populism

Of more than 20 Chinese banks, the agency raised the principal credit ratings of eight banks, including China Minsheng Banking Corp Ltd, Shenzhen Development Bank, Industrial Bank Co Ltd, Huaxia Bank, China Zheshang Bank, Bank of Jiangsu, Baoshang Bank and Bank of Chongqing.

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.

Specials

In the swim

Out of every 10 swimsuits in the world, seven are made in China.

Big spenders

Travelers spend more on shopping than food, hotels, other expenses

Rise in super rich

Rising property prices and a fast-growing economy have been the key drivers.

The beauty of body art
Waiting for drivers' seat
Teeing off to a bright future