ICBC’s Wang warns on eurozone debt contagion and Chinese property fears

The quality of European assets held by Chinese banks will probably be impaired due to the sovereign debt crisis embattling peripheral eurozone economies, and this remains one of the top risk management challenges for China's leading state-owned commercial banks, such as the Industrial and Commercial Bank of China (ICBC).

Wang Lili, executive director and senior executive vice-president of ICBC in Beijing, said while the risks from European debt, notably related to the so-called Piigs countries