【新唐人2014年03月31日讯】日前，中国几家最大的国有银行，找到了新招，来化解自己的不良贷款，那就是把自己的坏账高价出售给自己的子公司——投资银行，这样不但使自己的账面看上去比较健康，还可以减少自己的损失。不过这一损招引起舆论一片哗然。专家指出，这些银行是企图通过自己的投资公司，把坏账转嫁给民众，不过投资公司最后可能倒闭，坏账不了了之。
27号，“中国银行”行长陈四清，在银行总部举行的新闻发布会上声称：“中行”在今年要打一场资产质量保卫战，他说，“中行”采取的措施之一，就是利用投资银行手段化解不良贷款。
美国《华尔街日报》报导说，“中国银行”，已经启动一个新的策略，将坏账转移给它自己的投资银行部门，然后试图重组债务。而“工商银行”、“建设银行”和“农业银行”也都把目光投向类似的策略。
报导指出，由于自己的投资银行部门，可以支付比外部投资者更多的钱收购坏账，银行将能够记录较低的贷款损失。同时，根据中国会计规则，出售之后，问题贷款就不会再留在银行资产负债表上。
大陆金融分析师任中道：“卖给它的子公司，账面上看就比较漂亮，更有意思的一点，最后母公司没问题，把不好的都给这一个子公司，实在不行了就叫子公司破产，最后就不了了之。”
不过根据西方会计制度，这种公司内部交易，通常不能被认定为出售交易。报导指出，投资者已经变得越来越怀疑中国银行的资产负债表。
美国南卡罗莱纳大学艾肯商学院教授谢田：“正常国家，存贷款业务的银行和投资银行，它有它严格的区分，不能把存款、储户的钱拿去作投资，买股票或其他那些公共基金上，投资的钱是不受联邦存款保险公司的保护的。”
“农业银行”在去年的年报中声称，银行去年对不良贷款创新了处置手段，并将不良贷款冲销额增加了一倍。而“中国银行”高管说，“中国银行”把不良贷款卖给子公司投资银行后，投资银行可能需要向一个陷入困境的项目注入更多资金，才能使他们以后能够偿还贷款。
谢田：“呆账坏账，一部分是由于经济停滞、产能过剩、市场萎缩、经济衰退造成的，另外很大的程度上是中共贪官敛财造成的，它如果不解决这个问题，它现在要去填补，那这个黑洞会越来越大，贪官会贪得越来越多，实际上还是把老百姓的财富变相地投向了中共的既得利益集团。”
以往，中共国有银行处置不良贷款的方式，通常是卖给国有资产管理公司，和“中国信达资产管理股份有限公司”等外部投资公司。1999年，“建设银行”向“信达资产”出售了账面值为2500亿元的不良资产，“信达资产”仅支付给“建行”30亿元现金，其余2470亿元向“建行”发行金融债券，年息2.25%，为期10年。
而资产管理公司以很大的折扣，从国有银行手中购入不良贷款后，他们可以得到国家财政的支持，和享有政策红利，这样他们可以赚得盆满钵满。例如，2004年财政部发布通知说，从2005年起，如果“信达资产”无法就历史债权全额支付利息，财政部将就它的历史债券本金，和利息偿还提供支持。2009年9月，财政部又发布通知宣称，除将“信达”历史债券期限延长至20年外﹔将继续就历史债券本金及利息的偿还提供支持。
任中道：“就是用国家信用来做担保，什么意思呢﹖就是最后还是由老百姓买单，大家都知道，中共政府它不开什么公司，也没有什么买卖，最后就是老百姓的钱，来为他们所做所为造成的这个恶果去买单。”
美国“南卡罗莱纳大学艾肯商学院”教授谢田指出，从各银行把坏账卖给子公司投资银行，去继续欺骗中国投资大众的行为，可以看出，中国金融问题现在越来越严重，但是不管中共怎么做，也很难摆脱资产破灭的阴影。
采访编辑/刘惠 后制/李智远
Chinese Banks Sell Bad Debts to Itself:Who Are the Victims?
Days ago,several Chinese major state-owned banks found
“a new trick"to handle their bad loans.
They are selling distressed debts to their subsidiary
investment banks.
By doing this,those banks not only make their accounting
books look better,but also reduce their losses significantly.
However,such an insidious trick has shocked foreign media.
An expert said those banks are trying to transfer distressed
debts to ordinary people through their investment units.
Probably those subsidiaries will finally go bankrupt
and leave those debts unsettled.
On March 27th,president of Bank of China Chen Siqing made
an announcement in a press conference at it’s headquarters.
Chen said the Bank of China would battle to protect its asset
quality in 2014.
Resolving nonperforming loans via investment bank units is
exactly one of the measures that Chen mentioned the bank
would take in the “battle."
A Wall Street Journal report wrote that Bank of China"has
started a new strategy of unloading soured loans to its
investment-banking unit,which then would try to restructure
the debt."
It was reported that Industrial and Commercial Bank of China
(ICBC),China Construction Bank(CCB)and Agricultural Bank of
China(ABC)were considering using similar strategies.
According to the Wall Street Journal report,"With the
investment-banking unit expected to pay more than an
outside investor,the bank would be able to record lower
loan losses."
“The problem loan would be off the bank’s balance
sheet after the sale under Chinese accounting rules."
Ren Zhongdao,Chinese financial analyst:"Selling bad loans
to its subsidiary units can make account books look healthier.
More interestingly,bad records will no longer be seen for
parent banks as they are transferred to subsidiary units.
Anyway those units can go bankrupt if the condition becomes
worse,and distressed debts can be left unsettled in that way."
However,western accounting rules usually do not regard
intra-company transactions as real sales.
It was reported that investors have become increasingly
skeptical of Chinese banks’balance sheets.
Xie Tian,Professor at University of South Carolina Aiken
School of Business:"In a regular financial system, there is
strict division between normal banks and investment banks.
You cannot use money from saving accounts for investment,
buying stocks or other public funds.
Money for Investment is not protected by federal
insurance for savings."
In its annual report,Agricultural Bank of China claimed that
it"diversified the measures"in handling bad loans,and so
had doubled write-offs of bad debt.
A high-level official from Bank of China said,after investment
banks accepted bad loans,they might need to inject more
capital into a struggling project to make it pay off later.
Xie Tian:"On one hand,distressed debts may result from
economic decline,overcapacity and shrinking markets.
On the other hand,many bad debts are largely due to
corrupt officials."
If the Chinese Communist Party(CCP)simply tries to fill
the hole without solving that problem,the hole can only
become even bigger.
More money will be embezzled,and essentially the situation
is the same as always:"the party’s interest groups plunder
money from all Chinese civilians in disguised forms."
Traditionally,the CCP’s state-owned banks usually disposed
of nonperforming debts by selling them to state-owned asset-
management firms,such as China Cinda Asset Management.
In 1999,China Construction Bank(CCB)sold bad assets
worth of 250 billion Yuan($40.2 billion)to Cinda.
Cinda only paid 3 billion Yuan($0.48 billion)by cash,
and issued the rest(247 billion Yuan)in 10-year bonds
with a friendly 2.25% interest rate back to CCB.
So after asset-management firms accepted bad debts from
state-owned banks,they would benefit from state-level
financial support and other subsidies.
They can make a lot of money from that.
For example,in 2004 the Ministry of Finance issued a notice
saying If Cinda was not able to make full payment of interests
for historical debts,the ministry would provide financial help
from 2005.
In September 2009,the ministry again announced that it
had extended Cinda’s bond term from 10 years to 20 years,
continuing to assist Cinda in paying all debts and interests.
Ren Zhongdao:"Indeed the party is giving warrant with
its state credit.
That is,it is still Chinese people who are forced to pay the bill.
We all know that the CCP runs no company or business itself.
It always turns out that the CCP make all Chinese
pay for bad results due to their faults."
Xie Tian commented that,now that the CCP’s banks are still
deceiving Chinese investors by selling bad debts to investment
units,China’s financial problems are visibly worse.
However,no matter what strategy the party uses,it can
hardly escape the bursting of all its assets in the end.
Edit/liuhui Post-Production/lizhiyuan
