Indeed, the ICBC’s non-performing loan (NPL) ratio for LFP loans is as low as 0.3%, while the corresponding coverage ratio – the bank’s ability to absorb losses from NPLs – is 1,066%. According to the NAO, the NPL ratio for the RMB10.7 trillion in local-government debt is roughly 2.3%.
事实上，中国工商银行的地方财政平台单款不良率只有0.3%，而相应的保付率——即银行吸收不良贷款损失的能力——为1066%。根据国家审计署的数据，10.7万亿人民币地方政府债务中，不良率大约为2.3%。