Economy - Banks can deal with NPL's - PBOC governor

The four Chinese commercial banks can deal with their non-performing loans, said governor Zhou Xiaochuan of the People's Bank of China, at the luncheon of the Instiute of International Finance today in Shanghai. Most of the NPL's developed because of policies of the central government and China's plan economy. "The banks can only be blamed for about 20 percent of the loans," a very relaxed central banker told an audience of international bankers.
Getting the banks listed was seen as an important tool to improve corporate governance at the banks, Zhou said, echoing a conclusion of the yesterday released IIF-report that urged state-owned companies to go public.
Zhou impressed his audience about the relaxed way he talked about his business, without actually saying anything new. He deplored the transparent table he stood behind did not allow him to hide a glass of whisky, he joked. "He knows the jargon, speaks excellent English, that is what we like to see," said one of the bankers.