NPL: Non-performing Loan
不良贷款 / 不良债权：指银行放款债权。产生是因客户未能正常缴纳本息，甚或债权回收无望，在会计上打入「坏帐」（Bad debts）项目之不良金融资产。
e.g. 去年以来银行不良贷款在持续攀升，影子银行风险事件时有发生，同时一些地方陆续出现了还债高峰。
Since the beginning of last year, the banks’ NPL ratio has been increasing and cases of financial risks of shadow banking have occurred from time to time. Soon many local governments will see their debt come due.
