Thirty-five foreign investment institutions had invested a total of US$21 billion in 23 Chinese banks as at the end of October, the China Securities Journal reported, citing an official from the China Banking Regulatory Commission (CBRC). Overseas strategic investors helped Chinese banks in terms of business practice, corporate governance, risk control and financial innovation, the CBRC official said. It also speeds reform of Chinese banks, helps their long-term growth and strengthens their competitiveness, the official added. Separately, the newspaper reported the assets of overseas banks in China totalled US$153.9 billion as at the end of October, up 41% year-on-year and accounting for 2.24% of total financial assets in China. The non-performing loan ratio at foreign banks was just 0.59% on average.

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