The non-performing loans (NPL) ratio of Chinese commercial banks fell to a record low in the first quarter to 5.8 percent, according to the China Banking Regulatory Commission (CBRC).

The ratio was 0.38 percentage points lower than the previous low of 6.2 percent at the end of last year, the CBRC said on its website.

Non-performing loans at all commercial banks stood at 1.2 trillion yuan, a decrease of 22.78 billion yuan from the end of last year.

The CBRC also said total assets of the banking sector were 55.5trillion yuan (7.9 trillion U.S. dollars) by the end of March, up 20.8 percent from the same period a year earlier.

Among the total, more than half, or 29.9 trillion yuan, were registered with the state-owned commercial banks, which saw a 15.2percent increase in assets.

(Xinhua News Agency May 15, 2008)