While the scale of assets continued to expand, all prudential supervisory indicators stayed at healthy levels: the non-performing loan (NPL) ratio at 0.09%; the capital adequacy ratio (CAR) at 14.8%, within which the tier-one capital ratio stood at 11.2%; the one-month and three-month liquidity ratios were reported at 52.3% and 66.0% respectively. Renminbi (RMB) businesses of local banks also registered notable growth.
Today, Brexit, nationalist movements in Europe and the resurgent protectionism are giving us pause for thought: Might we have put too much stock in cooperation? Are the benefits it brings insufficient to justify its costs? The added value of international trade is at the core of this debate.