Subprime time
HOME > PAST ISSUE > REPORTS [Premium content]September 2007
Chinese banks are well-insulated from the meltdown in America’s low-end mortgage market
As Wall Street reeled from subprime mortgage trouble, China’s banks were in a better mood. This is because their relative lack of experience in overseas financial markets has taught them to steer clear of the risk.
“Chinese banks are not that advanced in investing in sophisticated products,” said May Yan, a vice president at credit ratings agency Moody’s in Hong Kong. “These banks’ investment strategy is generally more conservative and traditional.”
“Chinese banks are not that advanced in investing in sophisticated products,” said May Yan, a vice president at credit ratings agency Moody’s in Hong Kong. “These banks’ investment strategy is generally more conservative and traditional.”
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