Bank of China's Zhu Sees Global Crisis Hurting China, Post Says

By Aaron Pan

Nov. 2 (Bloomberg) -- Zhu Min, vice president of Bank of China Ltd., said the global financial crisis will hurt China and the country is only beginning to feel the impact, the South China Morning Post reported, citing Zhu.

China has already seen ``a sharp slowdown in industrial profit growth and fiscal income'' and the crisis will ``precede economic and political turmoil by eight to 12 months,'' the Post cited Zhu saying at a conference in Shanghai.

Zhu also forecast the U.S., Europe and Japan to post negative economic growth that will directly hurt China, the newspaper said.

Bank of China is the nation's oldest lender.

To contact the reporter on this story: Aaron Pan in Hong Kong at Apan8@bloomberg.net