On July 22, Yan Qingmin, Vice Chairman of the China Banking Regulatory Commission, wrote that non-performing loans at banking financial institutions will continue to grow in the first half of the year.

Yan Qingmin said that China's banking sector is operating relatively steadily, with risks generally under control. In particular, the sector has done a great deal of work in supporting industrial restructuring, affordable housing projects, small and micro enterprises, and agriculture, rural areas and farmers. At the same time, however, the banking sector faces pressure from a rebound in non-performing loans, potential risks have accumulated in some industries, sectors and regions, and the effectiveness and sustainability of financial support for the real economy need to be further improved.