Chinese bankers are upbeat about the country's economy in the long term, according to survey results released by the China Banking Association on Wednesday.
The Chinese Bankers Survey Report shows, more than half of the respondents polled believe the country's economic growth rate in 2012 will come in at 7.5 percent. And most are confident about the prospects of China's economic growth next year.
Yang Zaiping, Vice-Chairman of China Banking Association, said, "Although some challenges still exist, there is more potential for economic growth. Bankers are forming their views on this basis."
About 70 percent of bankers expect that the growth rate of lenders' revenue and profit over the next three years will be lower than 20 percent, and expanding the scale of interest-earning assets is the most powerful motivating factor for future profit growth.
In addition, around 60 percent say they believe the government should promote interest rate liberalization, as it is a key factor behind bank profitability.
"I believe that the interest rate spreads would up to 2 to 3 percent. But it won't be achieved within a year." said Yang.
Meanwhile, more than half of the respondents surveyed expect the non-performing loans rate to remain under 1 percent over the next three years. However, bankers remain cautious about lending to the real estate sector.
Yang also said, "We are concerned about the quality of banking assets, as it would be more risky when cutting down property prices."
The survey also shows, the pressure to perform has become the most major concern among China's bankers.
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