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China's Banks Face Margin Pressure In 2023


China's banks face tighter margins in the near term as the government's focus on high quality development means lenders cannot rely on fast GDP growth to sustain their business, China Merchants Bank chairman Miao Jianmin told a conference. Miao said the slower economy and turmoil in the real estate market were challenges for banks. Declines in the loan prime rate last year pressured new and existing loans and squeezed margins. Banks need to find new growth channels such as overseas transactions on credit cards, which should grow strongly as outbound tourism recovers, Miao said. (source: Yicai)

MNI Beijing Bureau |
MNI Beijing Bureau |

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