Chinese banks' non-performing loan ratio declines in Q1

BEIJING -- Chinese banks' bad loan ratio fell slightly in the first quarter and risks in the industry remained under control, data from the banking regulator showed Friday.

The non-performing loan ratio of Chinese banks stood at 1.79 percent in the first quarter, edging down slightly from the ratio seen at the start of the year, the China Banking and Insurance Regulatory Commission said Friday.

In the first quarter, the banks' outstanding bad loans amounted to 3.7 trillion yuan ($579 billion).

During the period, the banking industry reported total onshore assets of 351.1 trillion yuan, up 8.9 percent year-on-year, while their liabilities rose 8.8 percent to 321 trillion yuan.