Arab Today, arab today commercial banks misuse 58 bln yuan
Last Updated : GMT 06:08:34
Arab Today, arab today
Arab Today, arab today

Commercial banks misuse 58 bln yuan

Arab Today, arab today

Arab Today, arab today Commercial banks misuse 58 bln yuan

Beijing - Xinhua

Chinese auditors found the country\'s five commercial banks, including the Industrial and Commercial Bank of China (ICBC), misallocated 58 billion yuan (8.9 billion U.S. dollars) of policy loans, chief auditor Liu Jiayi said Monday. Liu, head of the National Audit Office, made the statement in a report submitted to the 21th session of the Standing Committee of the 11th National People\'s Congress (NPC), the top legislature. Liu said that various policy-based financial institutions have been following the country\'s policies to make their own loan plans and boost operation and risk-prevention abilities but problems still exist in loans and insurance services. These financial institutions cited include China Life Insurance Company, Property and Casualty Company Limited (PICC) and the five commercial banks, China Construction Bank, Bank of China, Agricultural Bank of China, the Bank of Communications and the ICBC. Among the policy loans misused, 25.4 billion yuan was granted to projects that lacked sufficient capital funds or bypassed approval procedures. Auditing of China Life and PICC\'s 499 branches revealed that some of these branches used false insurance claims and payments to steal insurance funds that totaled 1.99 billion yuan. According to Liu, related financial institutions have rectified 18.5 billion yuan involved in illegal management, and another 84.79 million yuan was recovered or collected as taxes. In addition, Liu said that high application requirements, complicated procedures and short loan terms have been preventing many individuals and companies from applying for small loans. Figures revealed by Liu, based on spot checks in nine provinces and municipalities, show that although policies allowed a total of 16 billion yuan for small loans, only 3.79 billion came last year.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today commercial banks misuse 58 bln yuan Arab Today, arab today commercial banks misuse 58 bln yuan

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today commercial banks misuse 58 bln yuan Arab Today, arab today commercial banks misuse 58 bln yuan

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Airbus CEO says won't cling to job

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Norway seeks 'Tesla tax' on electric cars

GMT 08:17 2017 Friday ,13 October

Norway seeks 'Tesla tax' on electric cars
Arab Today, arab today Safaa Sultan happy for “Love School”

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:19 2017 Wednesday ,11 October

Bosy reveals behind her participation in festival

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:16 2017 Friday ,13 October

Lufthansa to swallow lion's share

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday