ERNST & YOUNG APOLOGIZES FOR WRONG CHINA BAD ASSETS REPORT
AsiaInfo Services, May, 2006
AsiaInfo Services 05-17-2006 Ernst & Young Apologizes for Wrong China Bad Assets Report BEIJING, May 17, 2006 (SinoCast via COMTEX) -- Ernst & Young LLC, a global leading accounting firm, apologizes on its website that its statistics conclusion of the USD 911.1 billion bad assets in the Chinese banking industry is a mistake. On May 3, 2006, the company said in a research report that the top four state-owned commercial banks in China totally had non-performing assets of USD 385 billion and then reckoned that the whole Chinese banking sector had bad assets of USD 911.1 billion. The People's Bank of China was furious about that conclusion and denounced it fiercely.
PBC said according to its data, China just had non-performing assets of CNY 1.3 trillion...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Getting the global view: Nestle, led by Peter Brabeck-Letmathe, climbs to the #1 spot in this year's Best Companies for Leaders
