“It’s no longer a case of who owns the thing, but in which industry they’re in. To an extent, that now appears to be happening. For that to happen, lenders need to price in real credit risk. The change is in line with official efforts to shrink the country’s industrial overcapacity, but could shift growing risks in the corporate bond market back onto the shoulders of retail investors buying wealth management products backed by shadow banking loans.Įconomists have long argued the government needs to ensure credit is delivered to more productive parts of the economy if it wants to sustain growth.
Benchmark pt shadowing free#
The sharp retreat of weaker regions into shadow lending - when credit as a whole has expanded massively - suggests that traditional creditors are rapidly abandoning the long-held belief that lending to state-owned enterprises (SOEs) is risk free because local governments nearly always bail them out.Īn increasing number of bond defaulters over the past half year have been state-owned firms, many in legacy industrial sectors. “Smaller and poorer areas are different.”
“Economically advanced regions, especially those with strong access to municipal bond funding, don’t really have to fall back on shadow financing as much,” said a director at a Shanghai-based asset management firm. The borrowing accounted for 19 percent of the province’s total financing, up from just 1 percent in the first quarter of 2015. 0.06s gpulist v4.Firms in Liaoning, an industrial powerhouse in China’s northeast, borrowed over 2,000 percent more from shadow banks in the first quarter of this year, compared with a year earlier. #11 got benchmark programm data, about to get FAL images +0s. #9 Created sortOrder for cached benchmark data +0s. #8 Loaded cached benchmark data tx_nbc2_gpugame_cache_values +0.01s. #7 found 6918 cached benchmark values +0.02s. #5 Cache table found with all needed fields in it! +0s. #4 Cache table for values found, checking fields. #2 cached gamecheck data found for bench uid 584 +0s. # started gpulist at took 0s on source +0s. Move your cursor over the value to see individual results. The value in the fields displays the average frame rate of all values in the database.
Uncertain – This graphics card has not been explicitly tested on this game and no reliable interpolation can be made based on the performances of surrounding cards of the same class or family. A slower card may be able to achieve better and more consistent frame rates than this particular GPU running the same benchmark scene. Uncertain – This graphics card experienced unexpected performance issues during testing for this game. Based on interpolated information from surrounding graphics cards of similar performance levels, fluent frame rates are expected. May Run Fluently – This graphics card has not been explicitly tested on this game. Based on interpolated information from surrounding graphics cards of similar performance levels, stutters and poor frame rates are expected.įluent – Based on all known benchmarks using the specified graphical settings, this game should run at or above 25fpsįluent – Based on all known benchmarks using the specified graphical settings, this game should run at or above 35fpsįluent – Based on all known benchmarks using the specified graphical settings, this game should run at or above 58fps May Stutter – This graphics card has not been explicitly tested on this game. Based on all known benchmarks using the specified graphical settings, average frame rates are expected to fall below 25fps Stutters – This game is very likely to stutter and have poor frame rates. n123 Number of benchmarks for this median value / * Approximate position
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