economy - Banking reforms fail - report

State banks have created about 1.5 trillion Renminbi (US$ 180 billion) in bad debts over de past five years, about the same amount that has been disposed of in that half decade, research of the China Association of the State Economy has disclosed, according to The Standard from Hong Kong.
The report blames bad management as the main reason for the new non-performing loans.
The report also confirms worries economist Wu Jinglian expressed last week during his key note speech at a conference in Shanghai.