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In the first four months of this year, the China Construction Bank (CCB) handled 19.505 billion yuan (about US$2.36 billion) worth of non-performing loans (NPLs), recovering 10.762 billion yuan, including 10.158 billion yuan in cash.
A CCB spokesman said the bank's NPL recovery rate for the first four months is much faster than that for the same period last year, especially with regard to the recovery and writing off of bad debts.
He said that, starting from the second quarter, the bank's asset maintenance system will focus on reducing outstanding NPLs, pooling all available resources to improve the recovery rate, and reducing the number of NPLs by four percentage points by the end of this year.
(Xinhua News Agency May 26, 2003)
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