China - Henan province named 25 indebted and feeble local banks to be merged

[forex4you]

China - Henan province named 25 indebted and feeble local banks to be merged

The info comes from noted China analyst Michael Pettis via twitter:

• Henan province announced its consolidation plans on Sunday, naming 25 institutions to be merged into a provincial-level rural commercial bank.

And goes on:

This of course was inevitable. That its taken so long is a negative. That its finally happening is a positive.

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: China - Henan province named 25 indebted and feeble local banks to be merged

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