Causes Of Non Performing Loans In Chinese State Owned Commercial Banks

Author : Qun Wan
Publisher :
ISBN 13 : 9781374670730
Total Pages : pages
Book Rating : 4.6/5 (77 download)

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Download or read book A Legal Perspective on the Disposition of Non-Performing Loans and Bank Restructuring written by Qun Wan and published by . This book was released on 2017-01-27 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "A Legal Perspective on the Disposition of Non-performing Loans and Bank Restructuring: a Study of China's State-owned Commercial Banks" by Qun, Wan, 万群, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Abstract of thesis entitled A Legal Perspective on the Disposition of Non-performing Loans and Bank Restructuring: A Study of China's State-owned Commercial Banks Submitted by Wan Qun for the degree of Doctor of Philosophy at the University of Hong Kong in March 2006 Since the late 1970s, the People's Republic of China (China) has been involved in an on-going process of economic reform with the goal of transforming from a centrally planned economy to a socialist market economy. As one of the most important aspects in this transition process, China's banking system has been moving from its passive role under central planning to an active one with market-orientation. However, owing to the tradition of supporting state development policies and their inherent weak governance regime, most China's banking institutions are not good at distributing resources in line with market disciplines. In particular, the four largest state commercial banks grapple with the lingering problems of asset quality and commercial operation resulting from China's cultural, economic, legal and institutional background. The accession of China to the World Trade Organization (WTO) marks a major step in the integration of its banking and financial markets into the global financial system. The harmonization of liberalization and restructuring poses great challenge confronting China's developing banking market and legal system. In the course of enterprise and financial reform in China, the softening of legal constraint is prevalent, as a result of the distinctive features with the context of the transitional China, which constitutes a major cause to the non-performing loan problem in China. It exposes China's continued development to risks by hindering and retarding the progression of the rule of law. Recapitalization, AMCs, debt restructuring, and shareholding system, etc. have been taken by the Chinese government to tackle the serious banking problems. Unfortunately, they are not very effective because of the absence of robust market discipline and solid legal regime. While the principle of rule of law is pursued as an ideal objective in China's economic transformation, a balance should be made between this idealistic theory and the urgent need to meet the global challenge and to maintain social stability in post-WTO China. DOI: 10.5353/th_b3638870 Subjects: Bank loans - China Bank failures - China Banking law - China Banks and banking - Government ownership - China Corporate reorganizations - China