What’s the difference between Chinese and western banks?No write-offs and more lending than authorities like versus huge write-offs and less lending than authorities like.
The FT reports that Chinese banks will be announcing record profits for 2007 over the next few weeks. One domestic media report put pre-tax profits for all domestic banks at Rmb610bn ($85.4 billion), an 83% cent increase from a year earlier.
The question for 2008 is how will they deal with government efforts to cool the economy and reign in credit. For U.S. banks, the question will be how will they deal with government efforts to stimulate the economy and alleviate the credit crunch.