● Over 90% of new loan commitments were directed at projects in six key industries - energy, transportation, urban infrastructure, petroleum and petrochemical, telecommunication - throughout China. Over 55% of all loans outstanding are in support of projects addressing the development of Western and Central China.
● Improved collection efforts and the enforcement of debt-to-equity swap agreements led to a reduction in non-performing assets from 18.66% in 1999 to 8.78% in 2000.
● Funding this year was derived primarily through the issuance of domestic bonds (RMB 145 billion) and an increase in customer deposits (RMB 10.3 billion). Efforts to improve the duration matching of our funding and lending activities, and to lengthen the average maturity of these activities, have both proven successful in 2000.
* Non-performing asset ratio, as defined in this report, is calculated on the basis of the five category asset classification defined by the PBOC, which is similar to the commonly accepted international regulatory definition.