Here's The Chinese Bank Story That Has Markets On Edge Today

It looks like worrying about China is back.

This Bloomberg story is making the rounds today as something causing people to worry.

Industrial & Commercial Bank of China Ltd., the world’s most profitable lender, and its four largest rivals expunged in the first six months 22.1 billion yuan ($3.65 billion) of debt that couldn’t be collected, up from 7.65 billion yuan a year earlier, filings showed. That didn’t pare first-half profits, which climbed to a record $US76 billion, as provisions were set aside in earlier periods when the loans began souring.

The other China story is a rise in money-market rates, as the PBOC may be taking fresh anti-inflation moves.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.