 "China, flag")
China's banking and insurance regulator said on Tuesday that bad loans at banks now stand at a high level due to the impact of the coronavirus pandemic.
"Asset quality at smaller banks will also be under pressure this year, and credit risks in some institutions will continue to accumulate," according to a statement sent by China's Banking and Insurance Regulatory Commission (CBIRC) to Reuters.
Chinese lenders recorded rising soured debt and shrinking net interest margins, a gauge of banks' profitability, amid the economic impact from a prolonged pandemic.
Small firms have been allowed to delay loan and interest repayments to
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