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China Needs 'Super Balance Sheet,' ICBC Chairman Says 

     BEIJING (MNI) - Yi Huiman, the chairman of Industrial and Commercial Bank
of China (ICBC), said Thursday at a forum in Beijing that China needs to
establish a "super balance sheet" to manage its financial sector problems.
     As financial markets develop, Yi said, traditional indicators like M2 money
supply and deposit-to-loan ratios cannot effectively reflect the real financial
situation and structure of a country, and the problem of different criteria
being applied when compiling financial data begins to stand out. 
     Such a problem negatively affects policy judgements, macroeconomic
regulation and financial regulation, Yi said.
     A "super balance sheet" is a financial report system that would cover all
on-balance-sheet and off-balance-sheet activities, as well as all domestic and
foreign stock flows, spot and futures trading, and other indicators, Yi said.
     It would aim to reflect the overall financial operating situation and
provide effective data support for regulators, Yi said.
     Yi also mentioned four problems that have increased the fragility of the
financial system, including overly abundant financing and financial innovation,
regulation arbitrage and some money market funds that actually serve as banks.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: vince.morkri@marketnews.com
[TOPICS: M$A$$$,M$Q$$$]
China Market NewsPolicy NewsAPACChinaJapanAustraliaNew ZealandRegion
China Market NewsPolicy NewsAPACChinaJapanAustraliaNew ZealandRegion
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