Saturday, August 8, 2009

China's lending to slow

Beijing orders state banks to slow loans

By Jamil Anderlini in Beijing

Published: August 7 2009 17:06 | Last updated: August 7 2009 20:14

China’s central bank has told the heads of the largest state-controlled banks to slow the pace of new lending, say people familiar with the matter, after new loan volume in the first half of the year tripled from same period a year earlier.

The pressure from the People’s Bank of China signals an unstated shift in policy and comes as it steps up its open-market operations to control liquidity and slow loan growth.

China is the tiger. Much as we hate to admit it, China will have a huge influence on the world economy in the next few years.


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Lynda Applegate said...

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