https://www.bloomberg.com/news/arti...t-s-big-new-call-china-banks-need-349-billion Jason Bedford might be the only person on Earth who reads every line of every financial statement issued by nearly 250 Chinese banks. His conclusion after completing the ritual for the umpteenth time: the industry needs capital, and lots of it. The 40-year-old UBS Group AG analyst, whose star is rising after he issued early warnings about the troubles roiling China’s smaller banks, says the lenders he covers now face a potential capital shortfall of 2.4 trillion yuan ($349 billion). His tally of assets at a broader universe of Chinese lenders in “distress” is 9.2 trillion yuan, or about 4% of the commercial banking system and nearly 10% of gross domestic product. While Bedford is quick to point out that China’s financial industry is on a sounder footing than it was a few years ago thanks to a major cleanup effort by regulators, he sees a difficult road ahead as authorities grapple with how to fix the country’s problem banks without spooking markets. Annnnnd the orange chips in...