Agricultural bank restructuring to finish this year

时间：2007-02-05 00:29:17

（单词翻译:单击）

Feb.2 - The Agricultural Bank of China expects to complete its financial restructuring in the second half of this year, but the central government has yet to decide on an exact reorganization plan, a top official said yesterday.

 

How much capital the government injects will be determined1 after completion of external audits3 and asset evaluation4, said the bank's vice-president Han Zhongqi.

 

The global accounting5 firm Deloitte is performing an audit2 of the bank's assets that should be finished at the end of this month. And the National Auditing6 Office has also started auditing the bank.

 

"In the financial restructuring, we aim to get all key financial indicators7 in shape to meet the requirements of the industry supervisor8 and for public listing," Han said.

 

Its goal is to cut the bad loan ratio to less than 5 percent from 23.5 percent at the end of last year.

 

The bank also aims to set aside assets to cover more than 60 percent of the bad loans, up from just 4.6 percent now, to meet requirements set by the banking9 regulator.

 

The bank's overhaul10 was listed as one of top priorities in the country's financial reforms this year at the National Financial Work Conference held last month.

 

The bank may follow the restructuring steps of the other three State commercial banks government capital injections, clearing non-performing loans, establishing shareholding11 companies, introducing strategic investors12 and seeking opportunities for listing, Han said.

 

But "the capital amount we need may be bigger" than that required by the other restructured banks, he said.

 

The bank has about 300 billion in bad assets generated by lending to meet government policies and some special loans, Han said.

 

Xinhua said that the bank is likely to get a $25 billion to $30 billion capital infusion13 in the first half of the year.

 

Han said it is too early to talk about that, as well as other reform details, such as introducing strategic investors or an initial public offering.

 

He stressed that the bank will not further cut its branch network and staff size this year during the restructuring.

 

It closed 24,000 branches and pared its workforce14 by 170,000 jobs over the past few years.

 

It still has the largest banking network, with 24,900 branches and 452,000 employees nationwide.

 
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1 determined duszmP     
adj.坚定的；有决心的
参考例句：
  • I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
  • He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。
2 audit wuGzw     
v.审计；查帐；核对；旁听
参考例句：
  • Each year they audit our accounts and certify them as being true and fair.他们每年对我们进行账务审核，以确保其真实无误。
  • As usual,the yearly audit will take place in December.跟往常一样，年度审计将在十二月份进行。
3 audits c54379fa058a9ad836b60a32f9ceb5bd     
n.审计，查账( audit的名词复数 )v.审计，查账( audit的第三人称单数 )
参考例句：
  • Requires that use of all bond funds is subject to independent audits. 需要使用的所有债券基金是受独立审计。 来自互联网
  • Support the locations during customer-visits, audits and quality-improvement programs. 支持客户参观，稽核和提高品质等项目。 来自互联网
4 evaluation onFxd     
n.估价，评价；赋值
参考例句：
  • I attempted an honest evaluation of my own life.我试图如实地评价我自己的一生。
  • The new scheme is still under evaluation.新方案还在评估阶段。
5 accounting nzSzsY     
n.会计，会计学，借贷对照表
参考例句：
  • A job fell vacant in the accounting department.财会部出现了一个空缺。
  • There's an accounting error in this entry.这笔账目里有差错。
6 auditing JyVzib     
n.审计，查账，决算
参考例句：
  • Auditing standards are the rules governing how an audit is performed.收支检查标准是规则统治一个稽核如何被运行。
  • The auditing services market is dominated by a few large accounting firms.审计服务市场被几家大型会计公司独占了。
7 indicators f46872fc1b5f08e9d32bd107be1df829     
（仪器上显示温度、压力、耗油量等的）指针( indicator的名词复数 )； 指示物； （车辆上的）转弯指示灯； 指示信号
参考例句：
  • The economic indicators are better than expected. 经济指标比预期的好。
  • It is still difficult to develop indicators for many concepts used in social science. 为社会科学领域的许多概念确立一个指标仍然很难。
8 supervisor RrZwv     
n.监督人，管理人，检查员，督学，主管，导师
参考例句：
  • Between you and me I think that new supervisor is a twit.我们私下说，我认为新来的主管人是一个傻瓜。
  • He said I was too flighty to be a good supervisor.他说我太轻浮不能成为一名好的管理员。
9 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
10 overhaul yKGxy     
v./n.大修，仔细检查
参考例句：
  • Master Worker Wang is responsible for the overhaul of this grinder.王师傅主修这台磨床。
  • It is generally appreciated that the rail network needs a complete overhaul.众所周知，铁路系统需要大检修。
11 shareholding d50815e5b4fdfade1f68dd62ed15450a     
n.股权
参考例句：
  • Shareholding commercial banks must exercise an independent system of board of directors. 股份制商业银行必须实行独立董事制度。 来自互联网
  • Asset re-structuring: to conduct shareholding reform for high quality assets. 资产重组：对优质资产进行股份制改造。 来自互联网
12 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
13 infusion CbAz1     
n.灌输
参考例句：
  • Old families need an infusion of new blood from time to time.古老的家族需要不时地注入新鲜血液。
  • Careful observation of the infusion site is necessary.必须仔细观察输液部位。
14 workforce workforce     
n.劳动大军，劳动力
参考例句：
  • A large part of the workforce is employed in agriculture.劳动人口中一大部分受雇于农业。
  • A quarter of the local workforce is unemployed.本地劳动力中有四分之一失业。

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