I Can't Believe it's China!

So says the market today, punting up this gargantuan bank (the Industrial and Commercial Bank of China) that was insolvent two years ago. But everything's fixed now, the bad loans are gone thanks to China sticking in state capital and carving out Y85 billion in bad loans.

They now apparently have 'sophisticated' risk controls in place and would never loan money to dodgy companies. This is the new China!

Seriously, I know the prospectus has all the ifs and buts, but these things should come with cigarrette package health warnings...but hey, if you're in the shares, enjoy, and good luck.