SG Talk

Be greedy when most are fearful... Wait a bit more... Dust needs to settle

Hard-core dictator take over = reverse of Deng XP policies = country go backwards.

Good luck to Chinese citizens they will need it in come coming days....

i though Xi jing Ping handed a olive branch with Biden just recently

According to the Talk Cock and Stooge gang especially sgbutt Chinese banks are collapsing ...

Please read this from Reuters:

BEIJING, Oct 28 (Reuters) - Three of China’s largest lenders posted third quarter profit rises of over 6% as non-performing loan ratios shrunk.

Industrial and Commercial Bank of China Ltd (ICBC) , the world’s largest commercial lender by assets, said net profit rose 6.8% year-on-year in the third quarter in a Friday filing.

Agricultural Bank of China Ltd (AgBank) and Bank of Communications Co Ltd (BoCom) followed suit with net profit up 6.4% and 6.7%, respectively, in their earnings filings.

https://www.reuters.com/article/icbc-res...NL1N31T0M6

(28-10-2022, 07:55 PM)sporeguy Wrote: [ -> ]According to the Talk Cock and Stooge gang especially sgbutt Chinese banks are collapsing ...

Please read this from Reuters:

BEIJING, Oct 28 (Reuters) - Three of China’s largest lenders posted third quarter profit rises of over 6% as non-performing loan ratios shrunk.

Industrial and Commercial Bank of China Ltd (ICBC) , the world’s largest commercial lender by assets, said net profit rose 6.8% year-on-year in the third quarter in a Friday filing.

Agricultural Bank of China Ltd (AgBank) and Bank of Communications Co Ltd (BoCom) followed suit with net profit up 6.4% and 6.7%, respectively, in their earnings filings.

https://www.reuters.com/article/icbc-res...NL1N31T0M6

Quite normal to have this kind of net profit for banks nowadays. What about other banks?
The industrial firms profit was down 2.3% year on year in 3rd quarter

http://english.scio.gov.cn/pressroom/202...488176.htm

Understand the bank's profit jumped in September and was elevated because of the extension of credit and loans.    This was with the help of Centre banks;  otherwise,  it will not have any decent profit to report. Must b for the sake of looking good for the Congress meeting

https://www.reuters.com/world/china/chin...022-10-11/

This was the situation reported in August

https://www.reuters.com/markets/rates-bo...022-08-12/

Aiya, Chinese economy has no relation with stock market performance.  

Stock market is only for gamblers to play, nothing to do with economy.  

In 2007, SSE can move from 1,000 points to 6,000 points then drop to 2,000 points. Market can drop 67% but how does it affect the economy? 

At that time, GDP double-digit growth right?  

 
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