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Growth in bad loans slowed at Chinese banks in the second quarter as lenders stepped up writedowns and the economy of the country’s prosperous east coast showed signs of stabilising.
第二季度，中国银行业不良贷款增长放缓。银行加快了资产减记，同时繁荣的华东沿海经济出现企稳迹象。
After years of fast profit rises driven by aggressive lending in support of China’s manufacturing and construction booms, the big four lenders are pulling in their horns as they brace for fallout from government efforts to rein in debt and cut rampant overcapacity in basic material sectors.
经过多年快速盈利增长（由支持中国制造业和建筑业繁荣的大举放贷驱动）之后，四大银行变得更为谨慎，准备迎接政府控制债务和削减基本材料行业严重产能过剩的努力的冲击波。
Industrial & Commercial Bank of China, the country’s largest lender by assets, yesterday reported net profit growth of 1 per cent for the second quarter, little changed from 0.6 per cent growth in the first quarter.
中国资产规模最大的银行——中国工商银行(ICBC)昨日报告第二季度净利润增长1%，与第一季度0.6%的增幅相差不大。
Industry-wide profits fell 0.1 per cent in the second quarter from a year earlier, compared with 6.3 per cent growth in the first quarter and 2.4 per cent in 2015.
全行业的利润同比下降0.1%，而第一季度利润同比增长6.3%，2015年增长2.4%。
Small banks have maintained fast profit growth as they expand assets more aggressively than larger rivals.
中小银行保持较快利润增长，因为它们更为激进地扩大资产规模。
But growth in non-performing loans moderated.
但不良贷款的增长有所放缓。
The NPL ratio for China’s commercial banking system was 1.75 per cent at the end of June, unchanged from three months earlier, while ICBC’s ratio fell to 1.55 per cent from 1.66 per cent three months earlier.
中国商业银行体系的不良贷款比率(NPL)在6月底为1.75%，与三个月前持平，而工行的不良率从三个月前的1.66%降至1.55%。
China’s three other largest banks — Bank of China, Agricultural Bank of China and China Construction Bank — each reported NPL ratios at end-June that were little changed from three months earlier.
中国另外三大银行——中国银行(Bank of China)、中国农业银行(Agricultural Bank of China)和中国建设银行(China Construction Bank)——均报告6月底的不良率与三个月前基本持平。
Bad loans continued to rise in volume terms, hitting Rmb1.44tn ($215bn) for all commercial banks at end-June, up by Rmb44bn since March.
不良贷款在数量上继续上升，6月底所有商业银行的不良贷款总量达到1.44万亿元人民币（合2150亿美元），比3月底高出440亿元人民币。
The NPL formation rate was slower than people thought.
不良贷款生成率比人们预想的要慢一些。
That’s the biggest surprise in these figures, said Ma Kunping, a banks analyst at China Merchants Securities in Shanghai.
这是这批数据中最大的意外，招商证券(China Merchants Securities)在上海的银行业分析师马鲲鹏表示。
The economy in the east coast has basically hit bottom.
华东沿海经济已基本触底。
Most of the problem companies have already been exposed.
大部分问题企业已经被曝光。
Banks’ net interest margin — which measures the difference between what lenders pay for deposits and what they collect on loans — fell to the lowest on record in the second quarter at 2.27 per cent.
银行的净息差（银行为存款支付的利率和它们对贷款收取的利率之差）在第二季度降至2.27%的创纪录低点。
China’s benchmark lending rate is at an all-time low of 4.35 per cent for one-year loans, and interest rate deregulation has forced lenders to compete on deposit and loan pricing.
中国的基准贷款利率正处于历史最低点，一年期贷款利率为4.35%；同时利率市场化迫使银行在存款和贷款的定价上展开竞争。
Regulators are preparing new rules to curb banks’ ability to package loans into wealth management products, which will help to reduce systemic risk but add to pressure on bank profits.
监管机构正准备出台新规则，以遏制银行把贷款打包成理财产品的能力，这将有助于降低系统性风险，但将加大银行利润所受的压力。
