China Minsheng Banking Corp., China's first privately-owned bank, said it held USD10 million of securities backed by U.S. sub-prime loans as of December 2007.
Other Chinese banks including Industrial & Commercial Bank of China
(ICBC), Bank of China and China Construction Bank reported that they
held a combined USD12 bn of subprime-related investments as of last
summer. Newer number were not available. It is likely that Chinese
banks will suffer losses from the American sub-prime crisis as 45 of
the world's biggest banks announced write downs of USD181 bn so far.
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