The Bank of China now says that its business has suffered no "actual losses" amid the Libyan turmoil, suggesting that the risks are controllable.
A BOC spokesperson says the bank's major business in Libya has covered the advanced payments for its contracts and performance guarantees.
3 Chinese banks, including the Bank of China, have received applications from two Libyan banks for an extension of their letters of guarantee.
The guarantees cover nearly 500 million U.S. dollars and seven Chinese companies.
Most will mature over the course the next 4 months.
