"Non-performing loans (NPLs) in banking are quite low, both in terms of outstanding NPLs and in terms of the NPL ratio. Currently, outstanding NPLs are less than 500 billion yuan ($80.43 billion), while outstanding loans reached nearly 65 trillion yuan by the end of last year ... The NPL ratio is only 0.95, showing banking asset quality is good in general."

Pan Gongsheng, deputy governor of the People's Bank of China, in a press conference Wednesday on the sidelines of the two sessions.